State Bank of India: Balance Sheet As at 31 March, 2019

112 STANDALONE
State Bank of India

Balance Sheet as at 31st March, 2019
(000s omitted)
Schedule As at 31.03.2019 As at 31.03.2018
No. (Current Year) (Previous Year)
` `
CAPITAL AND LIABILITIES
Capital 1 892,46,12 892,45,88
Reserves & Surplus 2 220021,36,33 218236,10,15
Deposits 3 2911386,01,07 2706343,28,50
Borrowings 4 403017,11,82 362142,07,45
Other Liabilities and Provisions 5 145597,29,55 167138,07,68
TOTAL 3680914,24,89 3454751,99,66
ASSETS
Cash and Balances with Reserve Bank of India 6 176932,41,75 150397,18,14
Balances with Banks and money at call and short notice 7 45557,69,40 41501,46,05
Investments 8 967021,94,75 1060986,71,50
Advances 9 2185876,91,77 1934880,18,91
Fixed Assets 10 39197,56,94 39992,25,11
Other Assets 11 266327,70,28 226994,19,95
TOTAL 3680914,24,89 3454751,99,66
Contingent Liabilities 12 1116081,45,94 1162020,69,30
Bills for Collection - 70022,53,97 74027,90,24
Significant Accounting Policies 17
Notes to Accounts 18
Schedules referred to above form an integral part of the Balance Sheet.
Signed by: Smt. Anshula Kant Shri Arijit Basu Shri Dinesh Kumar Khara Shri P. K. Gupta
Managing Director Managing Director Managing Director Managing Director
(Stressed Assets, Risk (Commercial Clients (Global Banking & (Retail & Digital Banking)
& Compliance) Group & IT) Subsidiaries)
Directors:
Dr. Girish Kumar Ahuja
Shri B. Venugopal
Dr. Purnima Gupta
Shri Chandan Sinha
Shri Sanjiv Malhotra
Dr. Pushpendra Rai
Shri Basant Seth Shri Rajnish Kumar
Shri Bhaskar Pramanik Chairman
Place: Mumbai
Date: 10th May 2019
116 STANDALONE
Schedule 4 - Borrowings
(000s omitted)
As at 31.03.2019 As at 31.03.2018
(Current Year) (Previous Year)
` `
I. Borrowings in India
(i) Reserve Bank of India 94319,00,00 94252,00,00
(ii) Other Banks 260,00,00 1603,85,43
(iii) Other Institutions and Agencies 27853,89,24 2411,83,26
(iv) Capital Instruments :
a. Innovative Perpetual Debt 19152,30,00 11835,00,00
Instruments (IPDI)
b. Subordinated Debt 28256,73,80 32540,83,80
47409,03,80 44375,83,80
TOTAL 169841,93,04 142643,52,49
II. Borrowings outside India
(i) Borrowings and Refinance outside India 231100,53,78 217543,29,96
(ii) Capital Instruments :
Innovative Perpetual Debt 2074,65,00 1955,25,00
Instruments (IPDI)
TOTAL 233175,18,78 219498,54,96
GRAND TOTAL 403017,11,82 362142,07,45

Secured Borrowings included in I & II above 124028,25,70 106637,02,05
Schedule 5 - Other Liabilities & Provisions

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Bills payable 23875,66,31 26617,74,90
II. Inter-office adjustments (Net) 21735,74,61 40734,57,50
III. Interest accrued 14479,87,48 16279,62,96
IV. Deferred Tax Liabilities (Net) 2,33,15 2,80,59
V. Others (including provisions)* 85503,68,00 83503,31,73
* Includes prudential provision for Standard Assets
` 12396,67,91 thousand (Previous Year `12499,46,35 thousand)
TOTAL 145597,29,55 167138,07,68
Schedule 6 - Cash and Balances With Reserve Bank of India

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Cash in hand (including foreign currency notes and gold) 18777,94,34 15472,42,20
II. Balance with Reserve Bank of India
(i) In Current Account 158154,47,41 134924,75,94
(ii) In Other Accounts - -
TOTAL 176932,41,75 150397,18,14
117
Schedule 7 - Balances With Banks And Money At Call & Short Notice
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. In India
(i) Balances with banks
(a) In Current Accounts 87,02,70 48,59,90
(b) In Other Deposit Accounts - -
(ii) Money at call and short notice
(a) With banks 4608,88,73 1614,44,26
(b) With other institutions - -
TOTAL 4695,91,43 1663,04,16
II. Outside India
(i) In Current Accounts 19667,07,18 28528,09,13
(ii) In Other Deposit Accounts 2870,14,73 1226,43,94
(iii) Money at call and short notice 18324,56,06 10083,88,82
TOTAL 40861,77,97 39838,41,89
GRAND TOTAL (I and II) 45557,69,40 41501,46,05
Schedule 8 - Investments
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Investments in India in :
(i) Government Securities 761883,12,15 848395,84,44
(ii) Other approved securities - -
(iii) Shares 9878,74,38 10516,69,01
(iv) Debentures and Bonds 84948,36,68 77962,93,46
(v) Subsidiaries and/ or Joint Ventures (including Associates) 5608,00,04 5077,97,43
(vi) Others (Units of Mutual Funds, Commercial Papers etc.) 53388,53,85 72882,56,59
TOTAL 915706,77,10 1014836,00,93
II. Investments outside India in :
(i) Government Securities (including local authorities) 11644,84,99 10520,45,85
(ii) Subsidiaries and/ or Joint Ventures abroad 4298,49,28 2712,22,30
(iii) Other Investments (Shares, Debentures etc.) 35371,83,38 32918,02,42
TOTAL 51315,17,65 46150,70,57
III. Investments in India :
(i) Gross Value of Investments 926650,59,97 1026438,36,91
(ii) Less: Aggregate of Provisions / Depreciation 10943,82,87 11602,35,98
(iii) Net Investments (vide I above) TOTAL 915706,77,10 1014836,00,93
IV. Investments outside India :
(iii) Net Investments (vide II above) TOTAL 51315,17,65 46150,70,57
GRAND TOTAL (III and IV) 967021,94,75 1060986,71,50
118 STANDALONE
Schedule 9 - Advances
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
A. I. Bills purchased and discounted 80278,87,21 67613,55,55
II. Cash credits, overdrafts and loans repayable on demand 776633,45,81 746252,38,11
III. Term loans 1328964,58,75 1121014,25,25
TOTAL 2185876,91,77 1934880,18,91
B. I. Secured by tangible assets (includes advances against Book Debts) 1582764,41,50 1505988,72,17
II. Covered by Bank/ Government Guarantees 80173,16,17 68651,16,60
III. Unsecured 522939,34,10 360240,30,14
TOTAL 2185876,91,77 1934880,18,91
C. I. Advances in India
(i) Priority Sector 520729,77,60 448358,95,60
(ii) Public Sector 240295,89,39 161939,24,46
(iii) Banks 9174,06,50 2845,19,97
(iv) Others 1114679,73,28 1023464,39,00
TOTAL 1884879,46,77 1636607,79,03
II. Advances outside India
(i) Due from banks 69975,74,47 77109,63,56
(ii) Due from others
(a) Bills purchased and discounted 26740,94,11 14539,04,35
(b) Syndicated loans 138191,25,40 120685,86,16
(c) Others 66089,51,02 85937,85,81
TOTAL 300997,45,00 298272,39,88
GRAND TOTAL [C (I) and C (II)] 2185876,91,77 1934880,18,91
Schedule 10 - Fixed Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Premises (including Revalued Premises)
At cost/revalued as at 31st March of the 30201,53,82 35961,29,86
preceding year
Additions:
- during the year 669,84,09 1056,24,24
- for Revaluation - 4477,39,82
Deductions during the year 39,60,68 11293,40,10
Depreciation to date:
- on cost 714,18,98 614,08,31
- on Revaluation 497,17,97 308,66,78
29620,40,28 29278,78,73
116 STANDALONE
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Other Banks 260,00,00 1603,85,43
Instruments (IPDI)
b. Subordinated Debt 28256,73,80 32540,83,80
47409,03,80 44375,83,80
TOTAL 169841,93,04 142643,52,49
Innovative Perpetual Debt 2074,65,00 1955,25,00
Instruments (IPDI)
TOTAL 233175,18,78 219498,54,96
GRAND TOTAL 403017,11,82 362142,07,45


(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Bills payable 23875,66,31 26617,74,90
II. Inter-office adjustments (Net) 21735,74,61 40734,57,50
IV. Deferred Tax Liabilities (Net) 2,33,15 2,80,59
V. Others (including provisions)* 85503,68,00 83503,31,73
* Includes prudential provision for Standard Assets
` 12396,67,91 thousand (Previous Year `12499,46,35 thousand)
TOTAL 145597,29,55 167138,07,68
Schedule 6 - Cash and Balances With Reserve Bank of India

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) In Other Accounts - -
TOTAL 176932,41,75 150397,18,14
117
Schedule 7 - Balances With Banks And Money At Call & Short Notice
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. In India
(b) In Other Deposit Accounts - -
(a) With banks 4608,88,73 1614,44,26
TOTAL 4695,91,43 1663,04,16
II. Outside India
TOTAL 40861,77,97 39838,41,89
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Other approved securities - -
(iii) Shares 9878,74,38 10516,69,01
(v) Subsidiaries and/ or Joint Ventures (including Associates) 5608,00,04 5077,97,43
TOTAL 915706,77,10 1014836,00,93
(ii) Subsidiaries and/ or Joint Ventures abroad 4298,49,28 2712,22,30
(iii) Other Investments (Shares, Debentures etc.) 35371,83,38 32918,02,42
TOTAL 51315,17,65 46150,70,57
(iii) Net Investments (vide I above) TOTAL 915706,77,10 1014836,00,93
(iii) Net Investments (vide II above) TOTAL 51315,17,65 46150,70,57
118 STANDALONE
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
II. Cash credits, overdrafts and loans repayable on demand 776633,45,81 746252,38,11
III. Term loans 1328964,58,75 1121014,25,25
TOTAL 2185876,91,77 1934880,18,91
III. Unsecured 522939,34,10 360240,30,14
TOTAL 2185876,91,77 1934880,18,91
(ii) Public Sector 240295,89,39 161939,24,46
(iii) Banks 9174,06,50 2845,19,97
(iv) Others 1114679,73,28 1023464,39,00
TOTAL 1884879,46,77 1636607,79,03
(i) Due from banks 69975,74,47 77109,63,56
(c) Others 66089,51,02 85937,85,81
TOTAL 300997,45,00 298272,39,88

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Premises (including Revalued Premises)
At cost/revalued as at 31st March of the 30201,53,82 35961,29,86
preceding year
Additions:
- during the year 669,84,09 1056,24,24
- for Revaluation - 4477,39,82
- on cost 714,18,98 614,08,31
- on Revaluation 497,17,97 308,66,78
29620,40,28 29278,78,73
119
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
II. Other Fixed Assets (including furniture
and fixtures)
At cost as at 31st March of the preceding year 30114,90,96 21856,35,33
Additions during the year 2404,25,97 9232,65,68
Depreciation to date 22186,23,44 20192,98,49
8888,53,86 9921,92,47
III. Assets under Construction (Including 688,62,80 791,53,91
Premises)
TOTAL (I, II, and III ) 39197,56,94 39992,25,11
Additions during the previous year includes receipt from erstwhile ABs and BMBL on acquisition
Schedule 11 - Other Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Inter-Office adjustments (net) - -
II. Interest accrued 26141,97,03 25714,46,61
III. Tax paid in advance / tax deducted at source 24376,29,42 17546,11,08
IV. Deferred Tax Assets (Net) 10422,49,17 11368,79,19
V. Stationery and Stamps 102,14,03 107,05,92
VI. Non-banking assets acquired in satisfaction of claims 73,71 4,64,72
VII. Others* 205284,06,92 172253,12,43
*Includes Deposits placed with NABARD/SIDBI/NHB amounting to
` 138245,29,37 thousand (Previous Year ` 95643,16,91 thousand)
TOTAL 266327,70,28 226994,19,95
Schedule 12 - Contingent Liabilities

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Claims against the bank not acknowledged as debts 43357,92,57 35153,03,00
II. Liability for partly paid investments / Venture Funds 472,87,61 619,44,30
III. Liability on account of outstanding forward exchange contracts 596621,66,74 644102,45,28
IV. Guarantees given on behalf of constituents
(a) In India 157186,66,27 148866,54,48
(b) Outside India 72425,94,84 67469,26,89
V. Acceptances, endorsements and other obligations 124194,94,04 121238,94,74
VI. Other items for which the bank is contingently liable* 121821,43,87 144571,00,61
*Includes Derivatives ` 117435,24,87 thousand (Previous Year
` 141154,40,39 thousand)
TOTAL 1116081,45,94 1162020,69,30
120 STANDALONE
State Bank of India

Profit and Loss Account for the year ended 31st March, 2019
(000s omitted)
Schedule Year ended 31.03.2019 Year ended 31.03.2018
` `
I. INCOME
Interest earned 13 242868,65,35 220499,31,56
Other Income 14 36774,88,78 44600,68,71
TOTAL 279643,54,13 265100,00,27
II. EXPENDITURE
Interest expended 15 154519,77,80 145645,60,00
Operating expenses 16 69687,73,74 59943,44,64
Provisions and contingencies 54573,79,61 66058,41,00
TOTAL 278781,31,15 271647,45,64
III. PROFIT
Net Profit/(Loss) for the year 862,22,98 (6547,45,37)
Add: Profit/(Loss) brought forward (15078,56,86) 31,68
Loss of eABs & BMB on amalgamation - (6407,68,97)
TOTAL (14216,33,88) (12954,82,66)
IV. APPROPRIATIONS
Transfer to Statutory Reserve 258,66,89 -
Transfer to Capital Reserve 379,20,76 3288,87,88
Transfer to Revenue and other Reserves 371,84,01 (1165,13,68)
Balance carried over to Balance Sheet (15226,05,54) (15078,56,86)
TOTAL (14216,33,88) (12954,82,66)
Basic Earning per Share: ` 0.97 ` -7.67
Diluted Earning per Share: ` 0.97 ` -7.67
The schedules referred to above form an integral part of the Profit & Loss Account.
Directors:
Shri B. Venugopal
Dr. Purnima Gupta
Shri Chandan Sinha
Dr. Pushpendra Rai
Place: Mumbai
Date: 10th May 2019
121
In terms of our report of even date
FOR J.C. BHALLA & CO. FOR RAO & KUMAR FOR BRAHMAYYA & CO.
Chartered Accountants Chartered Accountants Chartered Accountants
RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR

Partner : M. No.085669 Partner : M. No. 214919 Partner : M. No. 201825
Firm Regn. No. 001111N Firm Regn. No. 003089S Firm Regn. No. 000511S
FOR CHATURVEDI & SHAH LLP FOR S. K. MITTAL & CO. FOR RAY & RAY
VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

Partner: M. No.110248 Partner : M. No.013117 Partner : M. No. 061380
Firm Regn. No. 101720W/W100355 Firm Regn. No.001135N Firm Regn. No. 301072E
FOR O.P. TOTLA & CO. FOR N.C. RAJAGOPAL & CO. FOR K. VENKATACHALAM
Chartered Accountants Chartered Accountants AIYER & CO.
Chartered Accountants
S. R. TOTLA V. CHANDRASEKARAN
Partner : M. No. 071774 Partner: M. No. 024844 A GOPALAKRISHNAN
Firm Regn. No. 000734C Firm Regn. No. 230448S Partner : M. No. 018159
Firm Regn. No. 004610S
FOR S. K. KAPOOR & CO. FOR KARNAVAT & CO. FOR G. P. AGRAWAL & CO.
SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

Partner : M. No. 070487 Partner : M. No. 117987 Partner : M. No. 17643
Firm Regn. No. 000745C Firm Regn. No. 104863W Firm Regn. No. 302082E
FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

Chartered Accountants Chartered Accountants
D. K. ROY CHOWDHURY BHUPENDER MANTRI Place : Mumbai

Partner : M. No. 053087 Partner: M. No. 108170 Date : 10th May, 2019
Firm Regn. No. 303029E Firm Regn. No. 000722C
122 STANDALONE
Schedule 13 - Interest Earned

(000s omitted)
Year ended 31.03.2019 Year ended 31.03.2018
` `
I. Interest / discount on advances / bills 161640,23,23 141363,16,78
II. Income on investments 74406,16,37 70337,61,67
III. Interest on balances with Reserve Bank of India and other inter-bank
132 STANDALONE
4. Subordinated Debts
The bonds are unsecured, long term, non–convertible and are redeemable at par. The details of outstanding subordinate debts
are as under:-
(` in crore)
Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

No. Amount Date of Interest % Period In
Redemption P.A. Months
1 e-SBBJ Lower Tier II 500.00 20.03.2012 9.02 120
(Series VI) 20.03.2022
2 SBI Non Convertible 2,000.00 02.01.2014 9.69 120
(Private placement) Bonds 2013-14 ( Tier II) 02.01.2024
3 e-SBH Upper Tier II 325.00 05.06.2009 8.39 180
(Series IX) 05.06.2024
4 e- SBH Upper Tier II 450.00 21.08.2009 8.50 180
(Series X) 21.08.2024
5 e -SBH Upper Tier II 475.00 08.09.2009 8.60 180
(Series XI) 08.09.2024
6 e-SBM Tier II 500.00 17.12.2014 8.55 120
Basel III compliant 17.12.2024
7 e -SBP Tier II 950.00 22.01.2015 8.29 120
Basel III compliant (series I) 22.01.2025
8 e- SBBJ Tier II 200.00 20.03.2015 8.30 120
9 e -SBH Tier II 393.00 31.03.2015 8.32 120
Basel III compliant (Series XIV) 31.03.2025
10 SBI Non Convertible 866.92 04.11.2010 9.50 180
(Public issue) Bonds 2010 (Series II) 04.11.2025

(Lower Tier II)
11 SBI Non Convertible, Unsecured 4,000.00 23.12.2015 8.33 120
(Private Placement), Basel III compliant 23.12.2025

Tier II Bonds 2015-16 (Series I)
12 e -SBH Tier II 500.00 30.12.2015 8.40 120
Basel III compliant (Series XV) 30.12.2025

133
(` in crore)

13 e-SBM Tier II 300.00 31.12.2015 8.40 120
14 e-SBM Tier II 200.00 18.01.2016 8.45 120
15 e -SBH Tier II 200.00 08.02.2016 8.45 120
Basel III compliant (Series XVI) 08.02.2026
(Private Placement), Basel III compliant Tier 2 Bonds 18.02.2026

2015-16 (Series II)
(Public issue) Bonds 2011 Retail 16.03.2026

(Series IV) (Lower Tier II)
(Public issue) Bonds 2011 Non Retail 16.03.2026

(Private Placement), Basel III compliant Tier II Bonds 18.03.2026

2015-16 (Series III)
20 SBI Non Convertible, Unsecured 500.00 21.03.2016 8.45 120

2015-16 (Series IV)
21 e- SBT Tier II 515.00 30.03.2016 8.45 120
Basel III compliant (Series I) 30.03.2026
22 e- SBT Upper Tier II 500.00 26.03.2012 9.25 180
(Series III) 26.03.2027
Basel III - Tier II Bonds 2018 02.11.2028
TOTAL 28,256.74
134 STANDALONE
18.2. Investments
1. The Details of investments and the movement of provisions held towards depreciation on investments of the Bank are given
below:
(` in crore)
Particulars As at As at
31st March, 2019 31st March, 2018
1. Value of Investments
i) Gross value of Investments
(a) In India
131
3. Innovative Perpetual Debt Instruments (IPDI)

The details of IPDI issued which qualify for Hybrid Tier I Capital and outstanding are as under:
A. Foreign
(` in crore)
Particulars Date of Tenor Amount Equivalent Equivalent
Issue ` as on ` as on
Additional Tier 1 (AT1) Bonds issued under 22.09.2016 Perpetual USD 300 2,074.65 1,955.25
MTN Programme 29th series Non Call million
5 years
These bonds have been listed in Singapore stock exchange (SGX).
B. Domestic
(` in crore)
Sr. Nature of Bonds Principal Date of Issue Rate of Interest
No. Amount % p.a.
1. SBI Non Convertible Perpetual Bonds 2009-10 (Tier I) Series I 1,000.00 14.08.2009 9.10
2. e-SBM Tier -I 100.00 25.11.2009 9.10
3. e-SBP Tier -I Series I 300.00 18.01.2010 9.15
4. SBI Non Convertible Perpetual Bonds 2009-10 (Tier I) Series II 1,000.00 27.01.2010 9.05
5. e-SBH Tier -I Series XII 135.00 24.02.2010 9.20
6. e-SBH Tier -I Series XIII 200.00 20.09.2010 9.05
7. SBI Non Convertible Perpetual Bonds 2016 Unsecured Basel III AT 1 2,100.00 06.09.2016 9.00
8. SBI Non Convertible Perpetual Bonds 2016 Unsecured Basel III AT 2,500.00 27.09.2016 8.75
1 Series II
1 Series III
1 Series IV
11. SBI Non Convertible, Unsecured, Basel III- AT 1 Bonds 2018 4,021.00 04.12.2018 9.56
12. SBI Non Convertible, Unsecured, Basel III- AT 1 Bonds 2018 Series II 2,045.00 21.12.2018 9.37
13. SBI Non Convertible, Unsecured, Basel III- AT 1 Bonds 2018 Series III 1,251.30 22.03.2019 9.45
TOTAL 19,152.30*
*Includes ` 2,000 crore raised during the F.Y. 2009-10, of which ` 550 crore invested by SBI Employee Pension Fund, not reckoned
for the purpose of Tier I Capital as per RBI instructions.
132 STANDALONE
4. Subordinated Debts
The bonds are unsecured, long term, non–convertible and are redeemable at par. The details of outstanding subordinate debts
are as under:-
(` in crore)

1 e-SBBJ Lower Tier II 500.00 20.03.2012 9.02 120
(Series VI) 20.03.2022
(Private placement) Bonds 2013-14 ( Tier II) 02.01.2024
3 e-SBH Upper Tier II 325.00 05.06.2009 8.39 180
(Series IX) 05.06.2024
4 e- SBH Upper Tier II 450.00 21.08.2009 8.50 180
(Series X) 21.08.2024
5 e -SBH Upper Tier II 475.00 08.09.2009 8.60 180
(Series XI) 08.09.2024
6 e-SBM Tier II 500.00 17.12.2014 8.55 120
7 e -SBP Tier II 950.00 22.01.2015 8.29 120
Basel III compliant (series I) 22.01.2025
8 e- SBBJ Tier II 200.00 20.03.2015 8.30 120
9 e -SBH Tier II 393.00 31.03.2015 8.32 120
Basel III compliant (Series XIV) 31.03.2025
(Public issue) Bonds 2010 (Series II) 04.11.2025

(Lower Tier II)
(Private Placement), Basel III compliant 23.12.2025

Tier II Bonds 2015-16 (Series I)
12 e -SBH Tier II 500.00 30.12.2015 8.40 120
Basel III compliant (Series XV) 30.12.2025

133
(` in crore)

13 e-SBM Tier II 300.00 31.12.2015 8.40 120
14 e-SBM Tier II 200.00 18.01.2016 8.45 120
15 e -SBH Tier II 200.00 08.02.2016 8.45 120
Basel III compliant (Series XVI) 08.02.2026
(Private Placement), Basel III compliant Tier 2 Bonds 18.02.2026

2015-16 (Series II)
(Public issue) Bonds 2011 Retail 16.03.2026

(Public issue) Bonds 2011 Non Retail 16.03.2026


2015-16 (Series III)
20 SBI Non Convertible, Unsecured 500.00 21.03.2016 8.45 120

2015-16 (Series IV)
21 e- SBT Tier II 515.00 30.03.2016 8.45 120
Basel III compliant (Series I) 30.03.2026
22 e- SBT Upper Tier II 500.00 26.03.2012 9.25 180
(Series III) 26.03.2027
Basel III - Tier II Bonds 2018 02.11.2028
TOTAL 28,256.74
134 STANDALONE
18.2. Investments
1. The Details of investments and the movement of provisions held towards depreciation on investments of the Bank are given
below:
(` in crore)
1. Value of Investments
i) Gross value of Investments
(a) In India
139
(B) Quantitative Risk Exposure
(` in crore)
Particulars Currency Derivatives Interest Rate Derivatives
Current Year Previous Year Current Year Previous Year
(I) Derivatives
(Notional Principal Amount)
(a) For hedging 8,983.92 @ 20,605.24 @ 41,908.78 # 49,193.30 #
(b) For trading* 2,47,198.72 6,16,447.95 3,37,642.76 3,11,512.42
(II) Marked to Market Positions
(a)
Asset 3,555.69 5,716.35 3,365.55 592.99
(b) Liability 3,130.82 5,218.09 3,240.23 1,152.54
(III) Credit Exposure 12,665.30 21,749.61 7,037.75 4,160.44
(IV) Likely impact of one percentage change in interest rate
(100* PV01)
(a) on hedging derivatives 1.08 -0.14 150.90 -3.14
(b) on trading derivatives 15.83 0.98 136.08 11.62
(V) Maximum and Minimum of 100* PV 01 observed during
the year
(a) on hedging --
Maximum 1.08 - 255.40 2.81
Minimum - -0.04 - -
(b) on trading –
Maximum 24.41 1.18 149.73 0.76
Minimum -129.75 - 0.08 -
@ The swaps amounting to ` 245.10 crore (Previous Year ` 2,870.26 crore) entered with the Bank’s own foreign offices are not shown
here as they are for hedging of FCNB corpus and hence not marked to market.
# IRS/FRA amounting to ` 19,022.25 crore (Previous Year ` 2,988.82 crore) entered with the Bank’s own Foreign offices are not shown
here as they are for hedging of FCNB corpus and hence not marked to market.
* The forward contract deals with our own Foreign Offices are not included. Currency Derivatives ` 427.12 crore (Previous Year ` Nil)
and Interest Rate Derivatives ` Nil (Previous Year ` Nil).
1. The outstanding notional amount of derivatives done between Global Markets Unit and International Banking Group as on 31st
March, 2019 amounted to ` 19,694.47 crore (Previous Year ` 5,859.08 crore) and the derivatives done between SBI Foreign
Offices as on 31st March, 2019 amounted to ` 8,929.28 crore (Previous Year ` 12,056.81 crore).
2. The outstanding notional amount of interest rate derivatives which are not marked –to-market (MTM) where the
underlying Assets/Liabilities are not marked to market as on 31st March, 2019 amounted to ` 45,661.89 crore (Previous Year
` 45,442.82 crore).
140 STANDALONE
18.4. Asset Quality

a) Non-Performing Assets
(` in crore)
I) Net NPAs to Net Advances (%) 3.01% 5.73%
II) Movement of NPAs (Gross)
(a) Opening balance 2,23,427.46 1,12,342.99
(b) Additions (Fresh NPAs) during the year 32,738.05 1,60,303.65
Sub-total (i) 2,56,165.51 2,72,646.64
Less:
(c) Reductions due to up gradations during the year 4,794.34 4,746.09
(d) Reductions due to recoveries (Excluding recoveries made from upgraded 19,715.63 4,277.67
accounts)
(e) Technical/ Prudential Write-offs 5,139.76 4,537.11
(f) Reductions due to Write-offs during the year 53,765.42 35,658.31
Sub-total (ii) 83,415.15 49,219.18
(g) Closing balance (i-ii) 1,72,750.36 2,23,427.46
III) Movement of Net NPAs
(a) Opening balance 1,10,854.70 58,277.38
(b) Additions during the year 27,008.89 61,478.47
(c) Reductions during the year 71,968.85 8,901.15
(d) Closing balance 65,894.74 1,10,854.70
IV) Movement of provisions for NPAs (excluding provisions on standard assets)
(a) Opening balance 1,12,572.76 54,065.61
(b) Provisions made during the year 54,844.57 98,825.17
(c) Write-off / write-back of excess provisions 60,561.71 40,318.02
(d) Closing balance 1,06,855.62 1,12,572.76
Notes:-
i. Opening and closing balances of provision for NPAs include ECGC/CGFMU claims received and held pending adjustment of
` 8.72 crore (Previous Year ` 1.97 crore) and ` 235.61 crore (Previous Year ` 8.72 crore) respectively.
ii. Additions/Provisions made during the previous year include receipt from erstwhile ABs and BMBL on acquisition.
b) As per RBI circular No. DBR.BP.BC.No.32/21.04.018/2018-19 dated 1st April, 2019, in case the additional provisioning for
NPAs assessed by RBI exceeds 10% of the reported profit before provisions and contingencies and/or additional Gross
NPAs identified by RBI exceeds 15% of published incremental Gross NPAs for the reference period then banks are required
to disclose divergences from prudential norms on income recognition, asset classification and provisioning.
Accordingly, no separate disclosure is made in respect of divergence for the financial year 2017-18 as the same is not
beyond the above-mentioned thresholds.
c) Restructured Accounts
(` in crore)
Sr. Type of Restructuring Under CDR Mechanism (1) Under SME Debt Restructuring Mechanism (2)
No.
Asset Classification Standard Sub Doubtful Loss Total Standard Sub Doubtful Loss Total
Particulars Standard Standard
Restructured Accounts as on April 1, 2018 No. of 8 3 65 8 84 48 169 171 18 406
1 (Opening position) Borrowers (28) (-) (68) (4) (100) (81) (25) (128) (19) (253)
Amount 607.77 380.51 15,840.78 248.84 17,077.90 75.59 377.84 2,559.80 6.82 3,020.05
outstanding (7,711.79) (-) (17,030.68) (82.59) (24,825.06) (5,640.63) (204.06) (2,464.71) (6.88) (8,316.28)
Provision 7.06 28.17 106.20 - 141.43 18.23 26.85 115.41 0.39 160.88
thereon (327.32) (-) (360.74) (0.94) (689.01) (21.94) (10.65) (113.98) (-) (146.57)
Fresh Restructuring during the current FY No. of - - - - - - 28 4 3 35
2 Borrowers (23) (4) (18) (6) (51) (288) (436) (2,066) (288) (3,078)
Amount 68.59 - 95.32 - 163.91 42.73 42.82 27.70 0.27 113.52
outstanding (3,453.35) (220.71) (8,499.62) (186.82) (12,360.50) (83.44) (188.53) (189.35) (5.34) (466.66)
Provision 0.09 - - - 0.09 - 3.74 0.45 0.27 4.46
thereon (192.47) (20.86) (15.30) (0.03) (228.66) (27.69) (3.80) (3.94) (0.39) (35.82)
3 Up gradation to restructured standard category during No. of - - - - - - - - - -
current FY Borrowers (1) (-) (-1) (-) (-) (1) (-) (-1) (-) (-)
Amount - - - - - - - - - -
outstanding (443.42) (-) (-443.42) (-) (-) (-) (-) (-) (-) (-)
Provision - - - - - - - - - -
thereon (6.33) (-) (-6.33) (-) (-) (-) (-) (-) (-) (-)
4 Restructured Standard Advances which ceases to No. of -1 -1 -2 -2
attract higher provisioning and/ or additional risk Borrowers (-11) (-11) (-43) (-43)
weight at the end of the FY and hence need not be Amount -23.05 -23.05 -4.56 -4.56
shown as restructured standard advances at the outstanding
beginning of the next FY (-5,389.94) (-5,389.94) (-5,318.42) (-5,318.42)
Provision - - -0.23 -0.23
thereon (-209.29) (-209.29) (-1.80) (-1.80)
5 Downgradations of restructured accounts during No. of -2 -2 1 3 - -2 2 - - -
current FY Borrowers (-13) (-) (11) (2) (-) (-6) (5) (-3) (4) (-)
Amount -332.43 -221.77 -87.04 641.24 - -38.02 38.02 - - -
outstanding (-3,336.83) (303.58) (2,747.62) (285.63) (-) (-235.87) (125.95) (108.16) (1.76) (-)
Provision - -9.52 9.52 - - -0.35 0.35 - - -
thereon (-36.14) (7.65) (28.03) (0.47) (-) (-12.02) (12.02) (-) (-) (-)
6 Write-offs of restructured accounts during current FY No. of -1 -1 -22 -2 -26 -16 -32 -33 -4 -85
Borrowers (-20) (-1) (-31) (-4) (-56) (-273) (-297) (-2,019) (-293) (-2,882)
Amount -174.83 -158.74 -9,612.97 -233.55 -10,180.09 -29.63 -151.36 -2,171.70 -0.44 -2,353.13
outstanding (-2,274.02) (-143.78) (-11,993.72) (-306.20) (-14,717.72) (-94.19) (-140.70) (-202.42) (-7.16) (-444.47)
Provision -6.19 -18.65 -115.72 - -140.56 -7.39 -24.51 -90.98 -0.39 -123.27
thereon (-273.63) (-0.34) (-291.54) (-1.44) (-566.95) (-17.58) (0.38) (-2.51) (-) (-19.71)
7 Total Restructured Accounts as on 31st March, 2019 No. of 4 - 44 9 57 28 167 142 17 354
(Closing Position) Borrowers (8) (3) (65) (8) (84) (48) (169) (171) (18) (406)
Amount 146.04 - 6,236.10 656.53 7,038.67 46.11 307.32 415.80 6.65 775.88
outstanding (607.77) (380.51) (15,840.78) (248.84) (17,077.90) (75.59) (377.84) (2,559.80) (6.82) (3,020.05)
Provision 0.96 - - - 0.96 10.26 6.43 24.88 0.27 41.84
thereon (7.06) (28.17) (106.20) (-) (141.43) (18.23) (26.85) (115.41) (0.39) (160.88)
141
Sr. Type of Restructuring Others (3) TOTAL ( 1 + 2 + 3 )
142
No.
Asset Classification Standard Sub Doubtful Loss Total Standard Sub Doubtful Loss Total
Particulars Standard Standard
1 Restructured Accounts as No. of 360 335 1,094 45 1,834 416 507 1,330 71 2,324
on April 1, 2018 (Opening Borrowers (100) (206) (1,990) (49) (2,345) (209) (231) (2,186) (72) (2,698)
position) Amount 4,179.74 3,933.96 29,631.18 966.41 38,711.28 4,863.08 4,692.31 48,031.77 1,222.07 58,809.23
outstanding (23,281.14) (2,714.14) (6,774.45) (30.56) (32,800.30) (36,633.56) (2,918.20) (26,269.85) (120.03) (65,941.64)
Provision 350.99 80.14 170.62 0.64 602.39 376.27 135.15 392.24 1.03 904.69
thereon (242.27) (28.14) (174.82) (-) (445.23) (591.54) (38.79) (649.55) (0.94) (1,280.82)
2 Fresh Restructuring during No. of 7 111 291 66 475 7 139 295 69 510
the current FY Borrowers (30,726) (6,219) (235) (20) (37,200) (31,037) (6,659) (2,319) (314) (40,329)
Amount 9,347.86 2.96 94.95 3.95 9,449.72 9,459.18 45.78 217.96 4.23 9,727.15
outstanding (8,757.80) (3,097.75) (9,145.22) (121.52) (21,122.29) (12,294.58) (3,506.99) (17,834.19) (313.68) (33,949.44)
Provision 43.41 0.47 8.02 2.26 54.16 43.49 4.21 8.47 2.53 58.70
thereon (236.33) (25.15) (93.70) (4.23) (359.41) (456.49) (49.80) (112.94) (4.66) (623.89)
3 Upgradation to restructured No. of 7 -7 - - - 7 -7 - - -
standard category during Borrowers (5) (-3) (-2) (-) (-) (7) (-3) (-4) (-) (-)
current FY Amount 0.29 -0.29 - - - 0.29 -0.29 - - -
outstanding (656.33) (-605.65) (-50.68) (-) (-) (1,099.75) (-605.65) (-494.10) (-) (-)
Provision - - - - - - - - - -
thereon (3.99) (-1.04) (-2.95) (-) (-) (10.32) (-1.04) (-9.28) (-) (-)
4 Restructured Standard No. of -22 -22 -25 -25
Advances which ceases to Borrowers (-38) (-38) (-92) (-92)
attract higher provisioning Amount -9,421.29 -9,421.29 -9,448.90 -9,448.90
and/ or additional risk weight outstanding (-2,716.15) (-2,716.15) (-13,424.50) (-13,424.50)
at the end of the FY and
hence need not be shown Provision -4.31 -4.31 -4.54 -4.54
as restructured standard thereon (-14.83) (-14.83) (-225.93) (-225.93)
advances at the beginning of
the next FY
5 Downgradations of No. of -9 -1 -79 89 - -13 -1 -78 92 -
restructured accounts during Borrowers (-50) (-222) (249) (23) (-) (-69) (-217) (257) (29) (-)
current FY Amount -39.38 -1,256.52 -42.68 1,338.58 - -409.83 -1,440.27 -129.72 1,979.82 -
outstanding (-21,997.58) (456.27) (20,388.99) (1,152.33) (-) (-25,570.29) (885.80) (23,244.77) (1,439.72) (-)
Provision -1.17 -15.18 10.96 5.39 - -1.52 -24.35 20.48 5.39 -
thereon (-133.95) (52.17) (81.52) (0.26) (-) (-182.12) (71.84) (109.55) (0.73) (-)
6 Write-offs of re-structured No. of -43 -211 -520 -29 -803 -60 -244 -575 -35 -914
accounts during current FY Borrowers (-30,383) (-5,865) (-1,378) (-47) (-37,673) (-30,676) (-6,163) (-3,428) (-344) (-40,611)
Amount -157.41 -2,650.27 -21,678.71 -1,505.78 -25,992.17 -361.87 -2,960.38 -33,463.39 -1,739.76 -38,525.40
outstanding (-3,801.80) (-1,728.55) (-6,626.80) (-338.00) (-12,495.16) (-6,170.02) (-2,013.03) (-18,822.94) (-651.36) (-27,657.35)
Provision -69.35 -64.58 -174.37 -4.24 -312.54 -82.93 -107.73 -381.07 -4.63 -576.36
thereon (-248.70) (-24.28) (-176.47) (-3.85) (-453.30) (-539.91) (-24.24) (-470.52) (-5.30) (-1,039.97)
7 Total Restructured No. of 300 227 786 171 1484 332 394 972 197 1895
Accounts as on 31st March, Borrowers (360) (335) (1,094) (45) (1,834) (416) (507) (1,330) (71) (2,324)
2019 (Closing Position) Amount 3,909.81 29.83 8,004.74 803.16 12,747.54 4,101.96 337.15 14,656.62 1,466.35 20,562.08
outstanding (4,179.74) (3,933.96) (29,631.18) (966.41) (38,711.28) (4,863.08) (4,692.31) (48,031.77) (1,222.07) (58,809.23)
Provision 319.57 0.85 15.23 4.05 339.70 330.77 7.29 40.11 4.32 382.49
thereon (85.11) (80.14) (170.62) (0.64) (336.51) (110.39) (135.15) (392.24) (1.03) (638.81)
1. Increase in outstanding of ` 8,263.39 crore (Previous Year ` 11,165.38 crore) included in Fresh Additions.
2. Closure of ` 27,360.50 crore (Previous Year ` 10,935.28 crore) and decrease in Outstanding of ` 1,133.75 crore (Previous Year ` 9,266.34 crore) is included in Write off.
3. Total Column does not include standard assets moved out of higher provisioning.
4. Fresh Restructuring during the previous year include receipt from erstwhile ABs and BMBL on acquisition.
STANDALONE
143
d) As per RBI circular no. DBR.No.BP.BC.18/21.04.048/2018-

19 dated 1.01.2019, the details of restructured MSME
accounts is as below:-
(` in crore)
No. of accounts restructured Amount
17,419 627.64
e) Details of Technical Write-offs and the recoveries made

thereon:
(` in crore)
Sr Particulars Current Year Previous Year
No
i Opening balance of 4,537.11 Nil
Technical/Prudential writ-
ten-off accounts as at April 1
ii Add: Technical/Prudential 5,139.76 12,926.65
write-offs during the year
iii Sub-total (A) 9,676.87 12,926.65
iv Less: Recoveries made/ 4,537.11 8,389.54
Actual written off from
previously technical/
prudential written-off ac-
counts during the year (B)
v Closing balance as at 31st 5,139.76 4,537.11
March (A-B)
Technical/Prudential write-offs during the previous year includes
the receipt from erstwhile ABs and BMBL on acquisition.
f) Details of financial assets sold to Securitisation

Company (SC) / Reconstruction Company (RC) for Asset
Reconstruction
(` in crore)
147
c) Risk Category wise Country Exposure

As per the extant RBI guidelines, the country exposure of the Bank is categorised into various risk categories listed in the
following table. The country exposure (net funded) of the Bank for any country does not exceed 1% of its total assets except
on USA, hence provision for the country exposure on USA has been made.
(` in crore )
Risk Category Net Funded Exposure Provision held
As at 31st March, As at 31st March, As at 31st March, As at 31st March,
2019 2018 2019 2018
Insignificant 90,015.33 96,534.70 121.06 111.18
Very Low 53,189.73 53,321.64 Nil Nil
Low 11,366.00 11,110.42 Nil Nil
Medium 17,523.32 13,480.60 Nil Nil
High 7,126.62 4,246.28 Nil Nil
Very High 8,314.33 8,082.38 Nil Nil
Restricted 1,299.06 3,964.32 Nil Nil
Total 1,88,834.39 1,90,740.34 121.06 111.18
d) Single Borrower and Group Borrower exposure 18.8. Miscellaneous

limits exceeded by the Bank
a. Disclosure of Penalties
The Bank had taken single borrower exposure &
- Reserve Bank of India has imposed a penalty of ` 1.00
Group Borrower exposure within the prudential limit
crore on the Bank for not monitoring the end use of
prescribed by RBI.
funds in respect of one of its borrowers.
e) Unsecured Advances
- Reserve Bank of India has imposed a penalty of
(` in crore )
` 1.00 crore on the Bank for non-compliance with
Sr Particulars As at As at the directions issued by RBI on the SWIFT related
No 31st March, 2019 31st March, 2018 operational controls.
a) Total Unsecured 5,22,939.34 3,60,240.30 - The Central Bank of Bahrain (CBB) has imposed
Advances of the bank a penalty of ` 0.92 crore (BHD 50,000) on Bahrain
i) Of which amount Nil Nil Branches for non-compliance of USD Parity
of advances out- stipulations in 5 deals. The Bank has filed an appeal
standing against before Central Bank of Bahrain and the final decision
charge over from CBB is still awaited.
intangible securities
such as rights, b. Penalty for Bouncing of SGL forms
licences, authority
No penalty has been levied on the Bank for bouncing
etc.
of SGL Forms.
ii) The estimated value Nil Nil
of such intangible
securities (as in (i)
above).
148 STANDALONE
18.9. Disclosure Requirements as per the Accounting Standards

a) Accounting Standard – 15 “Employee Benefits”
i. Defined Benefit Plans
1. Employee’s Pension Plan and Gratuity Plan
The following table sets out the status of the Defined Benefit Pension Plan and Gratuity Plan as per the actuarial valuation
by the independent Actuary appointed by the Bank:-
(` in crore)
Particulars Pension Plans Gratuity Plan
Change in the present value of the defined benefit
obligation
Opening defined benefit obligation at 1st April, 2018 87,786.56 67,824.90 12,872.60 7,291.02
Current Service Cost 1,060.57 978.19 410.51 286.07
Interest Cost 6,812.24 6,248.32 1,001.49 713.71
Past Service Cost (Vested Benefit) - - - 3,610.00
Liability transferred In/Acquisitions - 16,045.22 - 2,526.13
Actuarial losses (gains) 6,434.95 3,338.70 (107.62) (18.74)
Benefits paid (3,966.53) (4,190.42) (1,987.93) (1,535.59)
Direct Payment by Bank (2,765.64) (2,458.35) - -
Closing defined benefit obligation at 31st March, 2019 95,362.15 87,786.56 12,189.05 12,872.60
Change in Plan Assets
Opening fair value of Plan Assets as at 1st April, 2018 85,249.60 64,560.42 9,140.76 7,281.18
Expected Return on Plan Assets 6,615.37 5,908.09 711.15 709.95
Contributions by employer 2,391.18 4,363.79 2,359.86 226.90
Assets transferred In/Acquisitions - 14,742.79 - 2,484.28
Expected Contributions by the employees 0.34 - - -
Benefits Paid (3,966.53) (4,190.42) (1,987.93) (1,535.59)
Actuarial Gains / (Loss) on plan Assets 109.65 (135.07) 102.16 (25.96)
Closing fair value of plan assets as at 31 March, 2019
st
90,399.61 85,249.60 10,326.00 9,140.76
Reconciliation of present value of the obligation and fair
value of the plan assets
Present Value of Funded obligation at 31st March, 2019 95,362.15 87,786.56 12,189.05 12,872.60
Fair Value of Plan assets at 31 March, 2019
st
90,399.61 85,249.60 10,326.00 9,140.76
Deficit/(Surplus) 4,962.54 2,536.96 1,863.05 3,731.84
Unrecognised Past Service Cost (Vested) Closing Balance - - - (2,707.50)
Unrecognised Transitional Liability Closing Balance - - - -
Net Liability/(Asset) 4,962.54 2,536.96 1,863.05 1,024.34
Amount Recognised in the Balance Sheet
Liabilities 95,362.15 87,786.56 12,189.05 12,872.60
Assets 90,399.61 85,249.60 10,326.00 9,140.76
Net Liability / (Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,863.05 3,731.84
Net Liability/(Asset) 4,962.54 2,536.96 1,863.05 1,024.34
Net Cost recognised in the profit and loss account
Interest Cost 6,812.24 6,248.32 1,001.49 713.71
149
Particulars Pension Plans Gratuity Plan

Expected return on plan assets (6,615.37) (5,908.09) (711.15) (709.95)
Expected Contributions by the employees (0.34) - - -
Past Service Cost (Amortised) Recognised - - - -
Past Service Cost (Vested Benefit) Recognised - - 2,707.50 902.50
Net actuarial losses (Gain) recognised during the year 6,325.30 3,473.77 (209.78) 7.22
Total costs of defined benefit plans included in Schedule 16 7,582.40 4,792.19 3,198.57 1,199.55
"Payments to and provisions for employees"
Reconciliation of expected return and actual return on
Plan Assets
Actuarial Gain/ (loss) on Plan Assets 109.65 (135.07) 102.16 (25.96)
Actual Return on Plan Assets 6,725.02 5,773.02 813.31 683.99
Reconciliation of opening and closing net liability/
(asset) recognised in Balance Sheet
Opening Net Liability/ (Asset) as at 1st April, 2018 2,536.96 3,264.48 1,024.34 9.84
Expenses as recognised in profit and loss account 7,582.40 4,792.19 3,198.57 1,199.55
Paid by Bank Directly (2,765.64) (2,458.35) - -
Debited to Other Provision - - - -
Recognised in Reserve - - - -
Net Liability/ (Asset) transferred in - 1,302.43 - 41.85
Employer’s Contribution (2,391.18) (4,363.79) (2,359.86) (226.90)
Net liability/(Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,863.05 1,024.34
Investments under Plan Assets of Pension Fund & Gratuity Fund as on 31st March, 2019 are as follows:
Pension Fund Gratuity Fund

Category of Assets % of Plan Assets % of Plan Assets
Central Govt. Securities 23.69% 18.79%
State Govt. Securities 31.40% 33.96%
Debt Securities, Money Market Securities and Bank Deposits 31.93% 23.29%
Mutual Funds 2.39% 4.09%
Insurer Managed Funds 2.63% 15.36%
Others 7.96% 4.51%
Total 100.00% 100.00%
Principal actuarial assumptions
Particulars Pension Plans

Current Year Previous Year
Discount Rate 7.79% 7.76%
Expected Rate of return on Plan Asset 7.79% 7.76%
Salary Escalation Rate 5.20% 5.00%
Pension Escalation Rate 0.40% -
Attrition Rate 2.00% 2.00%
Mortality Table IALM (2006-08) IALM (2006-08)
ULTIMATE ULTIMATE
150 STANDALONE
Particulars Gratuity Plans

ULTIMATE ULTIMATE
Surplus/Deficit in the plan

Gratuity Plan
(` in crore)
Amount recognized in the Balance Sheet Year ended Year ended Year ended Year ended Year ended
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
Liability at the end of the year 7,182.35 7,332.14 7,291.02 12,872.60 12,189.05
Fair value of Plan Assets at the end of the year 7,110.25 6,879.77 7,281.18 9,140.76 10,326.00
Difference 72.10 452.37 9.84 3,731.84 1,863.05
Unrecognised Past Service Cost - - - 2,707.50 -
Unrecognised Transition Liability - - - - -
Amount Recognized in the Balance Sheet 72.10 452.37 9.84 1,024.34 1,863.05
Experience adjustment
(` in crore)
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
On Plan Liability (Gain) /Loss (24.69) 326.09 10.62 399.62 (212.11)
On Plan Asset (Loss) /Gain 106.04 (43.09) 182.34 (25.96) 102.16
Surplus/Deficit in the plan

Pension
(` in crore)
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
Liability at the end of the year 51,616.04 59,151.41 67,824.90 87,786.56 95,362.15
Fair value of Plan Assets at the end of the year 49,387.97 53,410.37 64,560.42 85,249.60 90,399.61
Difference 2,228.07 5,741.04 3,264.48 2,536.96 4,962.54
Unrecognised Past Service Cost - - - - -
Unrecognised Transition Liability - - - - -
Amount Recognized in the Balance Sheet 2,228.07 5,741.04 3,264.48 2,536.96 4,962.54
Experience adjustment
(` in crore)
On Plan Liability (Gain) /Loss 1,732.86 5,502.35 3,007.59 4,439.54 3,642.57
On Plan Asset (Loss) /Gain 2,285.87 (162.93) 2,246.60 (135.07) 109.65

As the plan assets are marked to market on the basis of the yield curve derived from government securities, the expected rate of
return has been kept the same as the discount rate.
151
The estimates of future salary growth, factored in actuarial valuation, take account of inflation, seniority, promotion and other
relevant factors such as supply and demand in the employment market. Such estimates are very long term and are not based on
limited past experience / immediate future. Empirical evidence also suggests that in very long term, consistent high salary growth
rates are not possible. The said estimates and assumptions have been relied upon by the auditors.
With a view to further strengthen the Pension Fund, it was decided to upwardly revise some of the assumptions.
2. Employees’ Provident Fund

Actuarial valuation carried out in respect of interest shortfall in the Provident Fund Trust of the Bank, as per Deterministic Approach
shows “Nil” liability, hence no provision is made in F.Y. 2018-19.
The following table sets out the status of Provident Fund as per the actuarial valuation by the independent Actuary appointed by
the Bank:-
(` in crore)
Provident Fund
Particulars Current Year Previous Year
Change in the present value of the defined benefit obligation
Opening defined benefit obligation at 1st April, 2018 29,934.63 25,921.96
Current Service Cost 943.07 942.85
Interest Cost 2,475.08 2,428.48
Employee Contribution (including VPF) 1,330.76 1,357.28
Liability Transferred In - 3,309.05
Actuarial losses/(gains) - 25.56
Benefits paid (4,195.61) (4,050.55)
Closing defined benefit obligation at 31st March, 2019 30,487.93 29,934.63
Opening fair value of Plan Assets as at 1st April, 2018 31,502.49 26,915.23
Expected Return on Plan Assets 2,475.08 2,428.48
Contributions 2,273.83 2,300.13
Transferred from other Companies - 3,723.65
Benefits Paid (4,195.61) (4,050.55)
Actuarial Gains / (Loss) on plan Assets 124.14 185.55
Closing fair value of plan assets as at 31 March, 2019
st
32,179.93 31,502.49
Reconciliation of present value of the obligation and fair value of the plan assets
Present Value of Funded obligation at 31st March, 2019 30,487.93 29,934.63
Fair Value of Plan assets at 31st March, 2019 32,179.93 31,502.49
Deficit/(Surplus) (1,692.00) (1,567.86)
Net Asset not recognised in Balance Sheet 1,692.00 1,567.86
Interest Cost 2,475.08 2,428.48
Expected return on plan assets (2,475.08) (2,428.48)
Interest shortfall reversed - -
Total costs of defined benefit plans included in Schedule 16 "Payments to and provisions for 943.07 942.85
employees"
Reconciliation of opening and closing net liability/ (asset) recognised in Balance Sheet
Opening Net Liability as at 1st April, 2018 - -
Expense as above 943.07 942.85
Employer's Contribution (943.07) (942.85)
Net Liability/(Asset) Recognized In the Balance Sheet - -
152 STANDALONE
Investments under Plan Assets of Provident Fund as on 31st March, 2019 are as follows:
Category of Assets Provident Fund
% of Plan Assets
Central Govt. Securities 35.51%
State Govt. Securities 24.74%
Debt Securities, Money Market Securities and Bank Deposits 31.67%
Mutual Funds 1.46%
Others 6.62%
Total 100.00%

Provident Fund
Guaranteed Return 8.55% 8.65%
Salary Escalation 5.20% 5.00%
ULTIMATE ULTIMATE
There is a guaranteed return applicable to liability under SBI Employees Provident Fund which shall not be lower of either:
(a) one half percent above the average standard rate (adjusted up or down to the interest one quarter per cent) quoted by the bank
for new deposits fixed for twelve months in the preceding year (ending on the preceding the 31st day of March); or
(b) three percent per annum, subject to approval of Executive Committee.
ii. Defined Contribution Plan:
The Bank has a Defined Contribution Pension Scheme (DCPS) applicable to all categories of officers and employees joining
the Bank on or after August 1, 2010. The Scheme is managed by NPS Trust under the aegis of the Pension Fund Regulatory
and Development Authority. National Securities Depository Limited has been appointed as the Central Record Keeping
Agency for the NPS. During F.Y. 2018-19, the Bank has contributed ` 451.39 crore (Previous Year ` 390.00 crore).
iii. Long Term Employee Benefits (Unfunded Obligation):
(A) Accumulating Compensated Absences (Privilege Leave)
The following table sets out the status of Accumulating Compensated Absences (Privilege Leave) as per the actuarial
valuation by the independent Actuary appointed by the Bank:-
(` in crore)
Accumulating Compensated
Absences (Privilege Leave)
Opening defined benefit obligation at 1st April, 2018 6,242.18 4,754.10
Interest Cost 485.64 432.03
Liability transferred In/ Acquisitions - 1,188.49
Actuarial losses/(gains) 741.53 593.08
Benefits paid (858.28) (933.78)
Closing defined benefit obligation at 31st March, 2019 6,870.40 6,242.18
153
Accumulating Compensated
Absences (Privilege Leave)
Actuarial (Gain)/ Losses 741.53 593.08
Total costs of defined benefit plans included in Schedule 16 "Payments to and provisions for 1,486.50 1,233.37
employees"
Reconciliation of opening and closing net liability/(asset) recognised in Balance Sheet
Opening Net Liability as at 1st April, 2018 6,242.18 4,754.10
Expense as above 1,486.50 1,233.37
Net Liability/ (Asset) transferred in - 1,188.49
Employer's Contribution - -
Benefit paid directly by the Employer (858.28) (933.78)
Net Liability/(Asset) Recognized In the Balance Sheet 6,870.40 6,242.18

ULTIMATE ULTIMATE
(B) Other Long Term Employee Benefits

Amount of ` 21.53 crore (Previous Year ` (63.95) crore) is provided / (written back) towards Other Long Term Employee
Benefits as per the actuarial valuation by the independent Actuary appointed by the Bank and is included under the head
“Payments to and Provisions for Employees” in Profit and Loss Account.
Do10ls of Provisions made-1.90
159
g) Accounting Standard – 27 “Financial Reporting of

interests in Joint Ventures”
Investments include ` 97.66 crore (Previous Year Assets
` 67.66 crore) representing Bank’s interest in the Cash and Balances 0.65 0.02
following jointly controlled entities. with RBI
Balances with Banks 70.48 68.86
Sr. Name of the Amount Country of Holding
and money at call and
No Company ` in crore Residence %
short notice
1 C - Edge 4.90 India 49%
Investments 90.95 49.47
Technologies Ltd. (4.90)
Advances - -
2 SBI Macquarie 18.57 India 45%
Infrastructure (18.57) Fixed Assets 28.53 8.91
Management Pvt. Other Assets 93.93 80.17
Ltd.
Total 284.54 207.43
3 SBI Macquarie 0.03 India 45%
Capital Commitments - -
Infrastructure (0.03)
Trustee Pvt. Ltd. Other Contingent 2.63 1.28
Liabilities
4 Maquarie SBI 2.25 Singapore 45%
Infrastructure (2.25) Income
Management Pte. Interest earned 8.70 4.13
Ltd.
Other income 188.09 184.18
5 Macquarie SBI - Bermuda 45%
Total 196.79 188.31
Infrastructure (-)
Trustee Ltd. # Expenditure
6 Oman India Joint 2.30 India 50% Interest expended 0.20 0.23
Investment Fund (2.30) Operating expenses 120.78 119.34
– Management
Provisions & 22.95 20.24
Company Pvt. Ltd.
contingencies
7 Oman India Joint 0.01 India 50%
Total 143.93 139.81
Investment Fund – (0.01)
Trustee Company Profit 52.86 48.50
Pvt. Ltd.
8 Jio Payments Bank 69.60 India 30% h) Accounting Standards – 28 “Impairment of Assets”
(39.60) In the opinion of the Bank’s Management, there is no
# Indirect holding through Maquarie SBI Infra Management Pte. indication of impairment to the assets during the year
Ltd., against which the company has made 100% provision on to which Accounting Standard 28 – “Impairment of
investments. Assets” applies.
(Figures in brackets relate to previous year).
i) Accounting Standard – 29 “Provisions, Contingent
Liabilities and Contingent Assets”
As required by AS 27, the aggregate amount of the assets,
liabilities, income, expenses, contingent liabilities and Description of Contingent liabilities:
commitments related to the Bank’s interests in jointly controlled
entities are disclosed as under: Sr. Particulars Brief Description
(` in crore) No.
Particulars As at As at 1 Claims against The Bank is a party to various
31st March, 2019 31st March, 2018 the Bank not proceedings in the normal course of
Liabilities acknowledged business. The Bank does not expect the
as debts outcome of these proceedings to have
Capital & Reserves 214.01 153.26 a material adverse effect on the Bank's
Deposits 5.50 - financial conditions, results of operations
or cash flows. The Bank is also a party
Borrowings 8.04 0.60
to various taxation matters in respect of
Other Liabilities & 56.99 53.57 which appeals are pending.
Provisions
2 Liability on This item represents amounts remaining
Total 284.54 207.43 partly paid-up unpaid towards liability for partly paid
investments/ investments. This also includes undrawn
Venture Funds commitments for Venture Capital Funds.
160 STANDALONE
j) Movement of provisions against Contingent Liabilities

Sr. Particulars Brief Description
No. (` in crore)
3 Liability on The Bank enters into foreign exchange Particulars Current Year Previous Year
account of contracts in its normal course of business Opening balance 503.16 423.34
outstanding to exchange currencies at a pre-fixed
Additions during the year 112.81 705.60
forward price at a future date. Forward exchange
exchange contracts are commitments to buy or sell Amount utilised during 51.51 227.64
contracts foreign currency at a future date at the the year
contracted rate. The notional amounts Unused amount reversed 39.20 398.14
are recorded as Contingent Liabilities. during the year
With respect to the transactions
Closing balance 525.26 503.16
entered into with its customers, the
Bank generally enters into off-setting
transactions in the interbank market. This Additions during the previous year includes receipt from erstwhile
results in generation of a higher number ABs and BMBL on acquisition.
of outstanding transactions, and hence a
large value of gross notional principal of 18.10. Additional Disclosures
the portfolio, while the net market risk is 1. Provisions and Contingencies
lower. (` in crore)
4 Guarantees As a part of its commercial Banking Break up of “Provisions Current Year Previous Year
given on activities, the Bank issues documentary and Contingencies”
behalf of credits and guarantees on behalf of its shown under head
constituents, customers. Documentary credits enhance Expenditure in Profit and
acceptances, the credit standing of the customers of loss account
endorsements the Bank. Guarantees generally represent Provision for Taxation
and other irrevocable assurances that the Bank
obligations will make payment in the event of the - Current Tax 491.13 673.54
customer failing to fulfil its financial or - Deferred Tax 954.12 (-) 9,654.33
performance obligations. - Write Back of Income (-) 700.00 -
5 Other items The Bank enters into currency options, Tax
for which forward rate agreements, currency Provision for Depreciation (-) 762.09 8,087.58
the Bank is swaps and interest rate swaps with inter- on Investments
contingently Bank participants on its own account
liable and for customers. Currency swaps Provision on Non- 54,617.72 71,374.22
are commitments to exchange cash Performing Assets
flows by way of interest/principal in one Provision on Restructured (-) 88.66 (-) 693.99
currency against another, based on Assets
predetermined rates. Interest rate swaps Provision on Standard (-) 74.55 (-) 3,603.66
are commitments to exchange fixed Assets
and floating interest rate cash flows.
The notional amounts that are recorded Other Provisions 136.13 (-) 124.95
as Contingent Liabilities, are typically Total 54,573.80 66,058.41
amounts used as a benchmark for the
calculation of the interest component of 2. Floating Provisions
the contracts. Further, these also include (` in crore)
estimated amount of contracts remaining
to be executed on capital account and
not provided for, letter of comforts issued Opening Balance 193.75 25.14
by the Bank on behalf of Associates Addition during the year - 168.61
& Subsidiaries, Bank’s Liability under
Draw down during the - -
Depositors Education and Awareness
year
Fund A/c and other sundry contingent
liabilities. Closing Balance 193.75 193.75
The Contingent Liabilities mentioned above are dependent upon Additions during the previous year includes receipt from erstwhile
the outcome of Court/ arbitration/out of Court settlements, ABs and BMBL on acquisition.
disposal of appeals, the amount being called up, terms of
contractual obligations, devolvement and raising of demand by
concerned parties, as the case may be.
161
3. Draw down from Reserves 8. Fees/remuneration received in respect of the

During the year, no draw down has been made from bancassurance business
reserves.
(` in crore)
4. Status of complaints Name of Company Current Year Previous Year
SBI Life Insurance Co. 951.90 714.75
A. Customer complaints (including complaints Ltd.
relating to ATM transactions)
SBI General Insurance 270.86 212.57
Particulars As at As at Co. Ltd.
31st March, 31st March, NTUC and Manu Life 1.20 1.05
2019 2018 Financial Limited
No. of complaints pending 79,259 46,282 Tokio Marine and ACE 1.63 0.32
at the beginning of the Unit Trust 0.47 0.26
year
AIA Singapore 0.64 0.07
No. of complaints 42,21,491 21,59,700
received during the year TOTAL 1,226.70 929.02
No. of complaints 41,61,721 21,26,723

9. Concentration of Deposits, Advances, Exposures &
redressed during the year
NPAs (computed as per directions of RBI)
No. of complaints pending 1,39,029 79,259
at the end of the year a) Concentration of Deposits
(` in crore)
Does not include complaints redressed within one working day. Particulars Current Year Previous Year
Total Deposits of twenty 90,609.54 1,19,585.93
No. of complaints received during the previous year include largest depositors
receipt from erstwhile ABs and BMBL on acquisition.
Percentage of Deposits 3.11% 4.42%
B. Awards passed by the Banking Ombudsman of twenty largest
depositors to Total
Particulars Current Year Previous Year Deposits of the Bank
No. of unimplemented 8 3
b) Concentration of Advances
Awards at the beginning
(` in crore)
of the year
No. of Awards passed by 19 78
the Banking Ombudsman Total Advances to twenty 2,89,222.17 1,95,211.00
during the year largest borrowers
No. of Awards 22 73 Percentage of Advances 12.61% 7.91%
implemented during the to twenty largest
year borrowers to Total
Advances of the Bank
No. of unimplemented 5 8
Awards at the end of
c) Concentration of Exposures
the year
(` in crore)
5. Payment to Micro, Small & Medium Enterprises Particulars Current Year Previous Year
under the Micro, Small & Medium Enterprises Total Exposure to twenty 4,47,140.43 3,65,809.00
Development Act, 2006 largest borrowers/
There has been no reported cases of delayed customers
payments of the principal amount or interest due Percentage of Exposures 12.80% 12.11%
thereon to Micro, Small & Medium Enterprises. to twenty largest
borrowers/customers
6. Letter of Comfort
to Total Exposure of
The Bank has not issued any letter of comfort which the Bank on borrowers/
are not recorded as contingent liabilities during the customers
year ended 31st March, 2019 and 31st March, 2018.
d) Concentration of NPAs
7. Provisioning Coverage Ratio (PCR):
(` in crore)
The Provisioning to Gross Non-Performing Assets Particulars Current Year Previous Year
ratio of the Bank as on 31st March, 2019 is 78.73 %
(Previous Year 66.17%). Total Exposure to top four 30,314.49 38,239.70
NPA accounts
162 STANDALONE
10. Sector –wise Advances

(` in crore)
Sr. Sector Current Year Previous year
No. Outstanding Gross NPAs Percentage Outstanding Gross NPAs Percentage
Total of Gross Total of Gross
Advances NPAs to Total Advances NPAs to Total
Advances in Advances in
that sector that sector
A Priority Sector
1 Agriculture & allied 1,99,789.60 23,335.83 11.68 1,88,502.88 20,964.77 11.12
activities
2 Industry (Micro & 97,116.64 12,545.61 12.92 99,386.61 16,020.84 16.12
Small, Medium and
Large)
3 Services 99,232.43 9,674.48 9.75 74,363.81 7,339.66 9.87
4 Personal Loans 1,59,419.70 2,882.01 1.81 1,04,507.85 3,332.33 3.19
Sub-total (A) 5,55,558.37 48,437.93 8.72 4,66,761.15 47,657.60 10.21
B Non Priority Sector
1 Agriculture & allied 19,403.93 89.00 0.46 3,753.61 301.93 8.04
activities
2 Industry (Micro & 9,75,896.74 1,12,411.63 11.52 9,06,557.34 1,62,784.99 17.96
Small, Medium and
Large)
3 Services 2,47,541.38 8,007.30 3.23 2,20,925.77 9,264.85 4.19
4 Personal Loans 4,95,053.70 3,804.50 0.77 4,50,389.43 3,418.09 0.76
Sub-total (B) 17,37,895.75 1,24,312.43 7.15 15,81,626.15 1,75,769.86 11.11
C Total (A+B) 22,93,454.12 1,72,750.36 7.53 20,48,387.30 2,23,427.46 10.91
11. Overseas Assets, NPAs and Revenue

(` in crore)
Sr. Particulars Current Year Previous Year
No.
1 Total Assets 3,95,123.25 3,84,990.79
2 Total NPAs (Gross) 1,937.19 7,199.29
3 Total Revenue 14,216.42 11,302.47
12. Off-balance Sheet SPVs sponsored
Name of the SPV Sponsored

Domestic Overseas
Current Year NIL NIL
Previous Year NIL NIL
163
13. Disclosure relating to Securitisation

(` in crore)
No. Number Amount Number Amount
1. No. of the SPVs sponsored by the Bank for securitization transactions Nil Nil Nil Nil
2. Total amount of securitized assets as per the books of the SPVs Nil Nil Nil Nil
sponsored by the bank
3. Total amount of exposures retained by the bank to comply with MMR as Nil Nil Nil Nil
on the date of balance sheet
a) Off-balance sheet exposures
i. First Loss
ii. Others
b) On-balance sheet exposures
i. First Loss
ii. Others
4. Amount of exposures to securitisation transactions other than MMR Nil Nil Nil Nil
a) Off-balance sheet exposures
i. Exposures to own securitisations
1. First Loss
2. Others
ii. Exposures to third party securitisations
1. First Loss
2. Others
b) On-balance sheet exposures
i. Exposures to own securitisations
1. First Loss
2. Others
ii. Exposures to third party securitisations
1. First Loss
2. Others
14. Credit Default Swaps

(` in crore)
No. As As As As
Protection Protection Protection Protection
Buyer Seller Buyer Seller
1. No. of transactions during the year Nil Nil Nil Nil
a) of which transactions that are/may be physically settled
b) cash settled
2. Amount of protection bought / sold during the year Nil Nil Nil Nil
a) of which transactions which are/ may be physically settled
b) cash settled
3. No. of transactions where credit event payment was received / made Nil Nil Nil Nil
during the year
a) pertaining to current year’s transactions
b) pertaining to previous year’s transactions
4. Net income/ profit (expenditure/ loss) in respect of CDS transactions Nil Nil Nil Nil
during year-to-date:
a) premium paid / received
b) Credit event payments:
• made (net of the value of assets realised)
• received (net of value of deliverable obligation)
5. Outstanding transactions as on 31st March : Nil Nil Nil Nil
a) No. of Transactions
b) Amount of protection
6. Highest level of outstanding transactions during the year: Nil Nil Nil Nil
a) No. of Transactions (as on 1st April)
b) Amount of protection (as on 1st April )
164 STANDALONE
15. Intra-Group Exposures:

(` in crore)
No.
i Total amount of intra-group exposures 27,765.01 25,469.43
ii Total amount of top-20 intra-group exposures 27,765.01 25,469.43
iii Percentage of intra-group exposures to total exposure of the bank on borrowers / customers 0.79% 0.84%
iv Details of breach of limits on intra-group exposures and regulatory action thereon Nil Nil
16. Unclaimed Liabilities transferred to Depositor Education and Awareness Fund (DEA Fund)
(` in crore)
Opening balance of amounts transferred to DEA Fund 2,125.62 1,081.42
Add : Amounts transferred to DEA Fund during the year 736.65 1,050.31
Less : Amounts reimbursed by DEA Fund towards claims 9.61 6.11
Closing balance of amounts transferred to DEA Fund 2,852.66 2,125.62
Amounts transferred to DEA Fund during the year includes receipt from erstwhile ABs and BMBL on acquisition.
17. Unhedged Foreign Currency Exposure

The Bank in accordance with RBI Circular No. DBOD.No.BP.BC.85/21.06.200/2013-14 dated 15th January 2014 on ‘Capital and
Provisioning Requirements for Exposure to entities has provided for Unhedged Foreign Currency Exposure’.
An amount of ` 98.13 crore (Previous Year ` 86.44 crore) was held as on 31st March 2019 for towards Currency Induced Credit
Risk and Capital allocated for Currency Induced Credit Risk amounting to ` 43.19 crore (Previous Year ` 66.49 crore).
18. Liquidity Coverage Ratio (LCR):

a) Standalone LCR
Liquidity Coverage Ratio (LCR) standard has been introduced with the objective that a bank maintains an adequate level
of unencumbered High Quality Liquid Assets (HQLAs) that can be converted into cash to meet its liquidity needs for a 30
calendar day time horizon under a significantly severe liquidity stress scenario.
LCR has been defined as :
Stock of high quality liquid assets (HQLAs)
Total net cash outflow over the next 30 calendar days
Liquid assets comprise of high quality assets that can be readily encashed or used as collateral to obtain cash in a range of
stress scenarios. There are two categories of assets included in the stock of HQLAs, viz. Level 1 and Level 2 assets. While
Level 1 assets are with 0% haircut, Level 2A and Level 2B assets are with 15% and 50% haircuts respectively. The total net
cash outflow is the total expected cash outflows minus total expected cash inflows for the subsequent 30 calendar days. Total
expected cash outflows are calculated by multiplying the outstanding balances of various categories or types of liabilities and
off-balance sheet commitments by the rates at which they are expected to run off or be drawn down. Total expected cash
inflows are calculated by multiplying the outstanding balances of various categories of contractual receivables by the rates at
which they are expected to flow in up to an aggregate cap of 75% of total expected cash outflows.
168 STANDALONE
The Group has been maintaining HQLA mainly in the form of SLR 23. Counter Cyclical Provisioning Buffer (CCPB)
investments over and above the mandatory requirements. Retail RBI vide Circular No. DBR.No.BP.BC.79/21.04.048/2014-15
deposits constitute major portion of total funding sources, and dated 30th March 2015 on ‘Utilisation of Floating Provisions/
such funding sources are well diversified. Management is of the Counter Cyclical Provisioning Buffer’ has allowed the banks,
view that the Bank has sufficient liquidity cover to meet its likely to utilise up to 50 per cent of CCPB held by them as on
future short term requirements. 31st December 2014, for making specific provisions for Non-
Performing Assets (NPAs) as per the policy approved by the
19. Fraud Reported and provision made during the year: Bank’s Board of Directors.
Out of the total frauds of ` 12,387.13 crore in 2,616 cases
(Previous year ` 2,532.24 crore in 1,789 cases) reported During the year, the Bank has not utilized the CCPB for
during the year, an amount of ` 12,310.90 crore in 581 cases making specific provision for NPAs.
(Previous year ` 2,359.61 crore in 539 cases) represents 24. RBI vide Circular no. DBR.No.BP.BC.108/21.04.048/2017-
advances declared as frauds. Full provision has been made 18 dated 6th June 2018 permitted banks to continue the
for the outstanding balance as on 31st March, 2019 in exposures to MSME borrowers to be classified as standard
respect of frauds reported during the year. assets. Accordingly, the bank has retained advances of
20. Inter Office Accounts ` 242.32 crores as standard asset as on 31st March 2019.
In accordance with the provisions of the circular, the bank
Inter Office Accounts between branches, controlling offices, has not recognized interest on these accounts and is
local head offices and corporate centre establishments are maintaining a standard asset provision of ` 12.12 crores as
being reconciled on an ongoing basis and no material effect on 31st March 2019 in respect of such borrowers.
is expected on the profit and loss account of the current
year. 25. As per RBI letter no. DBR.No.BP.15199/21.04.048/2016-17
and DBR. No. BP. 1906/21.04.048/ 2017-18 dated 23rd June
21. Sale of Assets to Reconstruction Companies 2017 and 28th August 2017 respectively, for the accounts
Shortfall on account of sale of assets to reconstruction covered under the provisions of Insolvency and Bankruptcy
companies during the year amounting to ` 173.37 crore Code (IBC), the bank is holding total provision of ` 34,554
(Previous Year ` 9.07 crore) has been fully charged in the crores (89.66% of total outstanding) as on 31st March, 2019.
current year.
26. The bank has made a provision of ` 3,984.00 crore (Total
22. Priority Sector Lending Certificate (PSLC) ` 5,643.41 crore) for the year ended 31st March, 2019 towards
The Bank has purchased the following PSLCs during the arrears of wages due for revision w.e.f 1st November, 2017.
year:- 27. a) Profit / (loss) on sale of investment (net) under schedule
(` in crore) 14 “Other Income” includes ` 473.12 crore on sale of
Sr. Category Current Previous partial investment in SBI General Insurance Company
No. Year Year Limited (Previous year ` 5,436.17 crore on sale of partial
investment in SBI Life Insurance Company Limited) .
1. PSLC Micro Enterprises 16,272.75 350.00
b) Miscellaneous Income under schedule 14 “Other
2. PSLC Agriculture 1,223.00 100.00 Income” includes ` 1,087.43 crore on transfer of
3. PSLC General 33,557.50 33,485.00 the bank’s merchant acquiring business (MAB) to
a wholly owned subsidiary SBI Payment Services
4. PSLC Small and Marginal 553.00 1,664.00 Private Limited (SBIPSPL) pursuant to a business
Farmers transfer agreement dated 29th September, 2018 for a
Total 51,606.25 35,599.00 consideration of ` 1,250 crore.
The Bank did not sell any PSLC during the year ended 31st March, 28. Previous year figures have been regrouped/reclassified,
2019 and 31st March, 2018. wherever necessary, to confirm to current year classification.
In cases where disclosures have been made for the first time
in terms of RBI guidelines / Accounting Standards, previous
year’s figures have not been mentioned.
169
State Bank of India

Cash Flow Statement for the year ended 31st March, 2019
(000s omitted)
PARTICULARS Year ended 31.03.2019 Year ended 31.03.2018
` `
CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit / (loss) before Taxes 1607,48,31 (15528,24,16)
Adjustments for:
Depreciation on Fixed Assets 3212,30,65 2919,46,63
(Profit)/Loss on sale of Fixed Assets (Net) 34,98,24 30,03,00
(Profit)/Loss on revaluation of Investments (Net) 2124,03,82 1120,61,02
(Profit)/Loss on sale of Investments in Subsidiaries / Joint Ventures / (473,12,00) (5639,89,81)
Associates
Provision for diminution in fair value & Non Performing Assets 54529,06,14 70680,23,69
Provision on Standard Assets (74,55,42) (3603,66,16)
Provision for depreciation on Investments (762,09,23) 8087,57,43
Other provisions including provision for contingencies 136,12,79 (124,95,17)
Income from Investment in Subsidiaries / Joint Ventures / Associates (348,01,18) (448,51,70)
Interest on Capital Instruments 4112,28,55 4472,04,27
64098,50,67 61964,69,04
Adjustments for:
Increase/(Decrease) in Deposits 205042,72,57 121022,95,24
Increase/ (Decrease) in Borrowings other than Capital Instruments 37722,44,37 42629,85,28
(Increase)/ Decrease in Investments other than Investments in 94719,11,74 (136164,12,43)
Subsidiaries / Joint Ventures / Associates
(Increase)/ Decrease in Advances (305525,79,00) (136597,79,56)
Increase/ (Decrease) in Other Liabilities (21247,50,61) (2214,19,47)
(Increase)/ Decrease in Other Assets (33604,14,67) (29086,42,24)
41205,35,07 (78445,04,14)
Tax refund/ (Taxes paid ) (6577,83,79) (6980,20,58)
NET CASH GENERATED FROM/ (USED IN) OPERATING ACTIVITIES A 34627,51,28 (85425,24,72)
CASH FLOW FROM INVESTING ACTIVITIES:
(Increase)/ Decrease in Investments in Subsidiaries / Joint Ventures / (2116,29,59) (1104,10,39)
Associates
Profit/(Loss) on sale of Investments in Subsidiaries / Joint Ventures / 473,12,00 5639,89,81
Associates
Income from Investment in Subsidiaries / Joint Ventures / Associates 348,01,18 448,51,70
(Increase)/ Decrease in Fixed Assets (2663,43,31) (4104,97,78)
Cash paid to shareholders of erstwhile Domestic Banking Subsidiaries - (25,18)
& Bhartiya Mahila Bank towards fractional entitlements consequent to
merger
170 STANDALONE
(000s omitted)
PARTICULARS Year ended 31.03.2019 Year ended 31.03.2018
` `
NET CASH GENERATED FROM/ (USED IN) INVESTING ACTIVITIES B (3958,59,72) 879,08,16
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from issue of equity shares including share premium (8,74,21) 23782,45,47
(Net of Share issue expenses)
Issue/(Redemption) of Capital Instruments (Net) 3033,20,00 (12603,22,50)
Interest on Capital Instruments (4112,28,55) (4472,04,27)
Dividend paid including tax thereon - (2416,26,71)
NET CASH GENERATED FROM/ (USED IN) FINANCING ACTIVITIES C (1087,82,76) 4290,91,99
EFFECT OF EXCHANGE FLUCTUATION ON TRANSLATION D 1010,38,16 1291,94,79
RESERVE
CASH & CASH EQUIVALENTS RECEIVED ON ACCOUNT OF E - 98890,28,99
MERGER OF DOMESTIC BANKING SUBSIDIARIES & BHARTIYA
MAHILA BANK
NET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTS 30591,46,96 19926,99,21
(A+B+C+D+E)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 191898,64,19 171971,64,98
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 222490,11,15 191898,64,19
Note:
(1) Components of Cash & Cash Equivalents as at: 31.03.2019 31.03.2018
Cash & Balance with RBI 176932,41,75 150397,18,14
Balances with Banks and money at call & short notice 45557,69,40 41501,46,05
222490,11,15 191898,64,19
(2) Cash flow from operating activities is reported by using indirect
method.
Directors:
Shri B. Venugopal
Dr. Purnima Gupta
Shri Chandan Sinha
Dr. Pushpendra Rai
Place: Mumbai
Date: 10th May 2019
171
In terms of our report of even date
FOR J.C. BHALLA & CO. FOR RAO & KUMAR FOR BRAHMAYYA & CO.
RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR

Partner : M. No.085669 Partner : M. No. 214919 Partner : M. No. 201825
Firm Regn. No. 001111N Firm Regn. No. 003089S Firm Regn. No. 000511S
FOR CHATURVEDI & SHAH LLP FOR S. K. MITTAL & CO. FOR RAY & RAY
VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

Partner: M. No.110248 Partner : M. No.013117 Partner : M. No. 061380
Firm Regn. No. 101720W/W100355 Firm Regn. No.001135N Firm Regn. No. 301072E
FOR O.P. TOTLA & CO. FOR N.C. RAJAGOPAL & CO. FOR K. VENKATACHALAM
Chartered Accountants Chartered Accountants AIYER & CO.
S. R. TOTLA V. CHANDRASEKARAN
Partner : M. No. 071774 Partner: M. No. 024844 A GOPALAKRISHNAN
Firm Regn. No. 000734C Firm Regn. No. 230448S Partner : M. No. 018159
Firm Regn. No. 004610S
FOR S. K. KAPOOR & CO. FOR KARNAVAT & CO. FOR G. P. AGRAWAL & CO.
SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

Partner : M. No. 070487 Partner : M. No. 117987 Partner : M. No. 17643
Firm Regn. No. 000745C Firm Regn. No. 104863W Firm Regn. No. 302082E
FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

Chartered Accountants Chartered Accountants
D. K. ROY CHOWDHURY BHUPENDER MANTRI Place : Mumbai

Partner : M. No. 053087 Partner: M. No. 108170 Date : 10th May, 2019
Firm Regn. No. 303029E Firm Regn. No. 000722C
172 STANDALONE
Independent Auditors’ Report
To required by the Banking Regulation Act, 1949 and State

Bank of India Act 1955, in the manner so required for the
The President of India Bank and are in conformity with accounting principles
generally accepted in India and give:
Report on Audit of the Standalone Financial Statements
a) true and fair view in case of the Balance Sheet, of the State
of Affairs of the Bank as at March 31, 2019;
Opinion
1. We have audited the accompanying Standalone Financial b) true balance of profit in case of Profit & Loss Account for the
Statements of State Bank of India (“the Bank”) which year ended on that date; and
comprise the Balance Sheet as at March 31, 2019, the Profit c) true and fair view in case of Cash Flow Statement for the
and Loss Account and Cash Flow Statement for the year year ended on that date.
then ended, and Notes to Standalone Financial Statements
including a summary of Significant Accounting Policies and Basis for Opinion
other explanatory information in which are included returns
2. We conducted our audit in accordance with the Standards
for the year ended on that date of:
on Auditing (SAs) issued by the Institute of Chartered
i. The Central offices, 16 Local Head offices, 1 Admin & Accountants of India (the ICAI). Our responsibilities under
Business unit, Global Market Unit, International Business those Standards are further described in the Auditor’s
Group, Corporate Accounts Group (Central), Commercial Responsibilities for the Audit of the Standalone Financial
Client Group (Central), Stressed Asset Resolution Group Statements section of our report. We are independent of the
(Central), Central Accounts Offices and 42 branches audited Bank in accordance with the code of ethics issued by the
by us; ICAI together with ethical requirements that are relevant to
our audit of the Standalone Financial Statements under the
ii. 14,758 Indian branches audited by Statutory Branch provisions of the Act, and we have fulfilled our other ethical
Auditors; responsibilities in accordance with these requirements and
iii. 38 Foreign branches audited by Local Auditors; the code of ethics. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a
The branches audited by us and those audited by other basis for our opinion.
auditors have been selected by the Bank in accordance with
the guidelines issued to the Bank by the Reserve Bank of Key Audit Matters
India. Also incorporated in the Balance Sheet, the Profit and 3. Key Audit Matters are those matters that in our professional
Loss Account are the returns from 8,447 Indian branches judgment were of most significance in our audit of the
(including other accounting units) and those have not been Standalone Financial Statements for the year ended March
subjected to audit. These unaudited branches account for 31, 2019. These matters were addressed in the context of
3 percent of advances, 11.44 per cent of deposits, 7.35 our audit of the Standalone Financial Statements as a whole
per cent of interest income and 12.80 per cent of interest and in forming our opinion thereon and we do not provide a
expenses. separate opinion on these matters. We have determined the
In our opinion and to the best of our information and matters described below to be the Key Audit Matters to be
according to the explanations given to us, the aforesaid communicated in our report:-
Standalone Financial Statements give the information
Sr. Key Audit Matters Auditors’ Response

No.
i Classification of Advances and Identification of and Our audit approach towards advances with reference to the
provisioning for non-performing Advances in accordance IRAC norms and other related circulars / directives issued by
with the RBI guidelines (Refer Schedule 9 read with Note RBI and also internal policies and procedures of the Bank
3 of Schedule 17 to the financial statements) includes the testing of the following:
Advances include Bills purchased and discounted, Cash - The accuracy of the data input in the system for income
credits, Overdrafts loans repayable on demand and recognition, classification into performing and non-
Term loans. These are further categorised as secured performing Advances and provisioning in accordance
by Tangible assets (including advances against Book with the IRAC Norms in respect of the branches allotted
Debts), covered by Bank / Government Guarantees and to us;
Unsecured advances.
173

No.
Advances constitute 59.38% of the Bank’s total assets. - Existence and effectiveness of monitoring mechanisms
They are, inter-alia, governed by income recognition, such as Internal Audit, Systems Audit, Credit Audit and
asset classification and provisioning (IRAC) norms and Concurrent Audit as per the policies and procedures of
other circulars and directives issued by the RBI from time the Bank;
to time which provides guidelines related to classification
We have examined the efficacy of various internal controls
of Advances into performing and non-performing
over advances to determine the nature, timing and extent
Advances (NPA). The Bank classifies these Advances
of the substantive procedures and compliance with the
based on IRAC norms as per its accounting policy No. 3.
observations of the various audits conducted as per the
Identification of performing and non-performing Advances monitoring mechanism of the Bank and RBI Inspection.
involves establishment of proper mechanism. The Bank
In carrying out substantive procedures at the branches
accounts for all the transactions related to Advances in
allotted to us, we have examined all large advances/stressed
its Information Technology System (IT System) viz. Core
advances while other advances have been examined on
Banking Solutions (CBS) which also identifies whether
a sample basis including review of valuation reports of
the advances are performing or non-performing. Further,
independent valuer’s provided by the Bank’s management.
NPA classification and calculation of provision is done
through another IT System viz. Centralised Credit Data Reliance is also placed on Audit Reports of other Statutory
Processing (CCDP) Application. Branch Auditors with whom we have also made specific
communication.
The carrying value of these advances (net of provisions)
may be materially misstated if, either individually or in We have also relied on the reports of External IT System Audit
aggregate, the IRAC norms are not properly followed. experts with respect to the business logics / parameters
inbuilt in CBS for tracking, identification and stamping of
Considering the nature of the transactions, regulatory
NPAs and provisioning in respect thereof.
requirements, existing business environment, estimation/
judgement involved in valuation of securities, it is a
matter of high importance for the intended users of the
Standalone Financial Statements. Considering these
aspects, we have determined this as a Key Audit Matter.
Accordingly, our audit was focused on income recognition,
asset classification and provisioning pertaining to
advances due to the materiality of the balances.
ii Classification and Valuation of Investments, Identification Our audit approach towards Investments with reference to
of and provisioning for Non-Performing Investments the RBI Circulars / directives included the review and testing
(Schedule 8 read with Note 2 of Schedule 17 to the of the design, operating effectiveness of internal controls
financial statements) and substantive audit procedures in relation to valuation,
classification, identification of Non Performing Investments,
Investments include investments made by the Bank in
Provisioning / depreciation related to Investments. In
various Government Securities, Bonds, Debentures,
particular,
Shares, Security receipts and other approved securities.
a. We evaluated and understood the Bank’s internal
Investments constitute 26.27% of the Bank’s total assets.
control system to comply with relevant RBI guidelines
These are governed by the circulars and directives of
regarding valuation, classification, identification of Non
the Reserve Bank of India (RBI). These directions of RBI,
Performing Investments, Provisioning / depreciation
inter-alia, cover valuation of investments, classification of
related to investments;
investments, identification of non-performing investments,
the corresponding non-recognition of income and b. We assessed and evaluated the process adopted
provision there against. for collection of information from various sources for
determining fair value of these investments;
The valuation of each category (type) of the aforesaid
securities is to be done as per the method prescribed in c. For the selected sample of investments in hand, we
circulars and directives issued by the RBI which involves tested accuracy and compliance with the RBI Master
collection of data/information from various sources such Circulars and directions by re-performing valuation for
as FIMMDA rates, rates quoted on BSE / NSE, financial each category of the security. Samples were selected
statements of unlisted companies etc. Considering the after ensuring that all the categories of investments
complexities and extent of judgement involved in the (based on nature of security) were covered in the sample;
valuation, volume of transactions, investments on hand
and degree of regulatory focus, this has been determined
as a Key Audit Matter.
174 STANDALONE

No.
Accordingly, our audit was focused on valuation of d. We assessed and evaluated the process of identification
investments, classification, identification of Non Performing of NPIs, and corresponding reversal of income and
Investments and provisioning related to investments. creation of provision;
e. We carried out substantive audit procedures to
recompute independently the provision to be maintained
and depreciation to be provided in accordance with
the circulars and directives of the RBI. Accordingly,
we selected samples from the investments of each
category and tested for NPIs as per the RBI guidelines
and recomputed the provision to be maintained in
accordance with the RBI Circular for those selected
sample of NPIs;
f. We tested the mapping of investments between the
Investment application software and the financial
statement preparation software to ensure compliance
with the presentation and disclosure requirements as
per the aforesaid RBI Circular/directions.
iii Assessment of Provisions and Contingent liabilities Our audit approach involved :-
in respect of certain litigations including Direct and
a. Understanding the current status of the litigations/tax
Indirect Taxes, various claims filed by other parties not
assessments;
acknowledged as debt. (Schedule 12 read with Note 18.9
of Schedule 18 to the financial statements) : b. Examining recent orders and/or communication received
from various Tax Authorities/ Judicial forums and follow
There is high level of judgement required in estimating
up action thereon;
the level of provisioning. The Bank’s assessment is
supported by the facts of matter, their own judgment, past c. Evaluating the merit of the subject matter under
experience, and advices from legal and independent tax consideration with reference to the grounds presented
consultants wherever considered necessary. Accordingly, therein and available independent legal / tax advice ; and
unexpected adverse outcomes may significantly impact
the Bank’s reported profit and the Balance Sheet. d. Review and analysis of evaluation of the contentions of
the Bank through discussions, collection of details of the
We determined the above area as a Key Audit Matter in subject matter under consideration, the likely outcome
view of associated uncertainty relating to the outcome and consequent potential outflows on those issues.
of these matters which requires application of judgment
in interpretation of law. Accordingly, our audit was
focused on analysing the facts of subject matter under
consideration and judgments/ interpretation of law
involved.
Information Other than the Standalone Financial Statements and Auditors’ Report thereon
4. The Bank’s Board of Directors is responsible for the other identified above and, in doing so, consider whether the other
information. The other information comprises the Corporate information is materially inconsistent with the Standalone
Governance report (but does not include the Standalone Financial Statements or our knowledge obtained in the audit
Financial Statements and our auditors’ report thereon), or otherwise appears to be materially misstated.
which we obtained at the time of issue of this auditors’
If, based on the work we have performed on the other
report, and the Directors’ Report including annexures, if any,
information that we obtained prior to the date of this auditors’
thereon, which is expected to be made available to us after
report, we conclude that there is a material misstatement of
that date.
this other information, we are required to report that fact.
Our opinion on the Standalone Financial Statements does We have nothing to report in this regard.
not cover the other information and the Basel III Disclosure
When we read the Director’s Report, including annexures,
and we do not and will not express any form of assurance
if any, thereon, if we conclude that there is a material
conclusion thereon.
misstatement therein, we are required to communicate the
In connection with our audit of the Standalone Financial matter to those charged with governance.
Statements, our responsibility is to read the other information
175
Responsibilities of Management and Those Charged with • Evaluate the appropriateness of accounting policies
Governance for the Standalone Financial Statements used and the reasonableness of accounting estimates
and related disclosures made by management.
5. The Bank’s Board of Directors is responsible with
respect to the preparation of these Standalone Financial • Conclude on the appropriateness of management’s
Statements that give a true and fair view of the financial use of the going concern basis of accounting and,
position, financial performance and cash flows of the Bank based on the audit evidence obtained, whether
in accordance with the accounting principles generally a material uncertainty exists related to events or
accepted in India including the Accounting Standards conditions that may cast significant doubt on the
issued by ICAI, and provisions of Section 29 of the Banking Bank’s ability to continue as a going concern. If we
Regulation Act, 1949, the State Bank of India Act, 1955 and conclude that a material uncertainty exists, we are
circulars and guidelines issued by RBI from time to time. required to draw attention in our auditors’ report to
This responsibility also includes maintenance of adequate the related disclosures in the Standalone Financial
accounting records in accordance with the provisions of Statements or, if such disclosures are inadequate,
the Act for safeguarding of the assets of the Bank and for to modify our opinion. Our conclusions are based
preventing and detecting frauds and other irregularities; on the audit evidence obtained up to the date of our
selection and application of appropriate accounting policies; auditors’ report. However, future events or conditions
making judgments and estimates that are reasonable and may cause the Bank to cease to continue as a going
prudent; and design, implementation and maintenance of concern.
adequate internal financial controls, that were operating
• Evaluate the overall presentation structure and content
effectively for ensuring the accuracy and completeness
of the Standalone Financial Statements, including the
of the accounting records, relevant to the preparation and
disclosures and whether the Standalone Financial
presentation of the financial statements that give a true and
Statements represent the underlying transactions and
fair view and are free from material misstatement, whether
events in a manner that achieves fair presentation.
due to fraud or error.
Materiality is the magnitude of misstatements in the
In preparing the Standalone Financial Statements,
Standalone Financial Statements that, individually or
management is responsible for assessing the Bank’s ability
in aggregate, makes it probable that the economic
to continue as a going concern, disclosing, as applicable,
decisions of a reasonably knowledgeable user of the
matters related to going concern and using the going
financial statements may be influenced. We consider
concern basis of accounting unless management either
quantitative materiality and qualitative factors in (i)
intends to liquidate the Bank or to cease operations, or has
planning the scope of our audit work and in evaluating
no realistic alternative but to do so.
the results of our work; and (ii) to evaluate the effect
Those Board of Directors are also responsible for overseeing of any identified misstatements in the financial
the Bank’s financial reporting process. statements.
We communicate with those charged with governance
Auditors’ Responsibility for the Audit of Standalone Financial regarding, among other matters, the planned scope
Statements and timing of the audit and significant audit findings,
6. Our objectives are to obtain reasonable assurance about including any significant deficiencies in internal control
whether the Standalone Financial Statements as a whole that we identify during our audit.
are free from material misstatement whether due to fraud We also provide those charged with governance with
or error and to issue an auditor’s report that includes our a statement that we have complied with relevant
opinion. Reasonable assurance is a high level of assurance, ethical requirements regarding independence and to
but is not a guarantee that an audit conducted in accordance communicate with them all relationships and other
with SAs will always detect a material misstatement when matters that may reasonably be thought to bear on
it exists. Misstatements can arise from fraud or error and our independence, and where applicable, related
are considered material, if individually or in aggregate, they safeguards.
could reasonably be expected to influence the economic
decisions of users taken on the basis of these Standalone From the matters communicated with those charged
Financial Statements. with governance, we determine those matters
that were of most significance in the audit of the
As part of an audit in accordance with SAs, we exercise Standalone Financial Statements of the current period
professional judgment and maintain professional skepticism and are therefore the Key Audit Matters. We describe
throughout the audit. We also: these matters in our auditors’ report unless law or
• Identify and assess the risks of material misstatement regulation precludes public disclosure about the
of the Standalone Financial Statements, whether due matter or when, in extremely rare circumstances, we
to fraud or error, design and perform audit procedures determine that a matter should not be communicated
responsive to those risks and obtain audit evidence in our report because the adverse consequences of
that is sufficient and appropriate to provide a basis doing so would reasonably be expected to outweigh
for our opinion. The risk of not detecting a material the public interest benefits of such communication.
misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations or
the override of internal control.
CONSOLIDATED 181
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Other Banks 4741,05,31 4822,21,61
Instruments (IPDI)
b. Subordinated Debt & Bonds 29153,93,90 48306,23,90 33665,66,40 45500,66,40
TOTAL 181248,75,53 150087,20,50
Instruments (IPDI)
b. Subordinated Debt & Bonds 515,12,50 2589,77,50 62,50,00 2017,75,00
TOTAL 232498,90,57 218992,13,38
GRAND TOTAL (I & II) 413747,66,10 369079,33,88


(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Bills payable 23914,03,90 26667,07,53
II. Inter Bank Adjustments (net) - -
III. Inter Office adjustments (net) 21735,79,14 40734,57,50
IV. Interest accrued 14232,96,48 15996,01,47
V. Deferred Tax Liabilities (net) 4,17,10 5,38,82
VI Liabilities relating to Policyholders in Insurance Business 140095,62,31 115128,68,83
VII Provision for Standard Assets 12709,13,43 12717,18,97
VIII Others (including provisions) 80953,96,56 79000,82,17
TOTAL 293645,68,92 290249,75,29
182 CONSOLIDATED
Schedule 6 - Cash and Balances with Reserve Bank of India

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) In Other Accounts 20,85,02 -
TOTAL 177362,74,09 150769,45,69
Schedule 7 - Balances with Banks and Money at Call & Short Notice
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. In India
(b) In Other Deposit Accounts 1959,46,21 2275,38,97
(a) With banks 4608,88,73 1613,94,26
TOTAL 7540,18,29 4270,18,23
II. Outside India
TOTAL 40609,34,01 40249,46,91
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Other Approved Securities 13769,53,82 9203,62,94
(iii) Shares 42825,92,12 36902,41,97
(v) Subsidiary and Associates 3383,71,53 3061,30,04
TOTAL 1065299,46,63 1136440,17,27

CONSOLIDATED 183
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Associates 136,33,52 113,74,52
(iii) Other Investments (Shares, Debentures, etc.) 39297,96,63 33921,42,61
TOTAL 53948,29,99 47354,06,92
Net Investments (vide I above) 1065299,46,63 1136440,17,27
Net Investments (vide II above) 53948,29,99 47354,06,92
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
II. Cash Credits, Overdrafts and Loans Repayable on demand 799218,03,33 758550,41,15
III. Term loans 1346107,25,98 1132800,76,31
TOTAL 2226853,66,72 1960118,53,51
III. Unsecured 542909,78,39 375446,09,53
TOTAL 2226853,66,72 1960118,53,51
(ii) Public Sector 240295,89,39 161939,24,46
(iii) Banks 9494,93,60 3280,07,87
(iv) Others 1127585,24,83 1031896,41,62
TOTAL 1898105,85,42 1645474,69,55

184 CONSOLIDATED
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(i) Due from banks 69802,85,72 77109,63,56
(c) Others 81438,00,29 98354,43,93
TOTAL 328747,81,30 314643,83,96

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Premises
At cost/revalued as on 31st March of the 30933,23,37 42107,56,59
preceding year
Additions:
- during the year 707,34,92 119,06,88
- for Revaluation - -
- on cost 793,71,67 666,86,16
- on Revaluation 497,17,97 30310,07,97 308,66,78 29957,70,43
II. Other Fixed Assets (including furniture and

fixtures)
At cost/revaluation as on 31st March of the 31649,29,47 28512,42,79
preceding year
Depreciation to date 23627,73,26 9557,69,89 21359,74,23 10289,55,24
III. Leased Assets

At cost/revalued as on 31st March of the 120,02,20 117,38,81
preceding year
Deductions during the year 57,63 4,22,13
Depreciation to date (including provisions) 82,11,57 66,55,50
72,97,65 53,46,70
Less : Lease Adjustment Account - 72,97,65 - 53,46,70
IV.Assets under Construction (including 762,29,75 925,06,89

Premises)
TOTAL (I, II, III and IV ) 40703,05,26 41225,79,26
CONSOLIDATED 185
Schedule 11 - Other Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Inter Office adjustments (net) 7,71,53 -
II. Inter Bank Adjustments (net) 123,67,98 26,70,13
IV. Tax paid in advance / tax deducted at source 24699,95,89 17728,89,88
V. Stationery and Stamps 133,99,80 125,47,34
VI. Non-banking assets acquired in satisfaction of claims 23,65,84 30,41,48
VII. Deferred tax assets (net) 10983,19,07 11837,70,33
VIII. Deposits placed with NABARD/SIDBI/NHB 138245,29,37 95643,16,91
IX. Others # 72885,65,26 82622,11,93
TOTAL 276150,31,32 236016,88,66
# Includes Goodwill on consolidation ` 1734,07,01 thousand (Previous Year ` 1734,07,01 thousand)
Schedule 12 - Contingent Liabilities

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Claims against the group not acknowledged as debts 43964,90,09 35546,03,53
II. Liability for partly paid investments / Venture Funds 1127,87,61 619,44,30
III. Liability on account of outstanding forward exchange contracts 597800,34,53 644808,04,15
IV. Guarantees given on behalf of constituents
(a) In India 157417,08,56 149282,50,36
(b) Outside India 72739,27,63 67762,40,06
V. Acceptances, endorsements and other obligations 124526,15,33 121900,95,22
VI. Other items for which the group is contingently liable 123670,64,08 146415,42,59
TOTAL 1121246,27,83 1166334,80,21
Bills for collection 70047,22,64 74060,22,00

186 CONSOLIDATED
State Bank of India

Consolidated Profit And Loss Account For The Year Ended 31st March 2019
(000s omitted)
Schedule Year ended 31.03.2019 Year ended 31.03.2018
` `
I. INCOME
Interest earned 13 253322,14,36 228970,27,66
Other Income 14 77365,21,58 77557,39,04
TOTAL 330687,35,94 306527,66,70
II. EXPENDITURE
Interest expended 15 155867,46,03 146602,98,20
Operating expenses 16 114800,30,80 96154,51,90
Provisions and contingencies 56950,51,70 67957,57,98
TOTAL 327618,28,53 310715,08,08
III. PROFIT/(LOSS)
Net Profit /(Loss) for the year (before adjustment for 3069,07,41 (4187,41,38)
Share in Profit of Associates and Minority Interest)
Add: Share in Profit of Associates 281,47,94 438,15,98
Less: Minority Interest 1050,91,44 807,03,60
Net Profit/(Loss) for the Group 2299,63,91 (4556,29,00)
Profit/(Loss) Brought forward (9941,19,94) (4340,03,96)
TOTAL (7641,56,03) (8896,32,96)
IV. APPROPRIATIONS
Transfer to Statutory Reserves 386,05,90 59,94,63
Transfer to Other Reserves 243,79,58 921,21,43
Dividend for the previous year paid during the year - -
(including Tax on Dividend)
Final Dividend for the year - -
Tax on Dividend 56,98,48 63,70,92
Balance carried over to Balance Sheet (8328,39,99) (9941,19,94)
TOTAL (7641,56,03) (8896,32,96)
Basic Earnings per Share ` 2.58 ` (5.34)
Diluted Earnings per Share ` 2.58 ` (5.34)
Schedules referred to above form an integral part of the
Profit & Loss Account
Smt. Anshula Kant Shri Arijit Basu Shri Dinesh Kumar Khara Shri P. K. Gupta
MD (SARC) MD (CCG & IT) MD (GB & S) MD (R & DB)
In term of our Report of even date.

For J.C. Bhalla & Co.
Shri Rajnish Kumar Shri Rajesh Sethi

Chairman Partner
Mumbai Mem. No. : 085669
Dated 10th May 2019 Firm Regn. No. : 001111N
CONSOLIDATED 187
Schedule 13 - Interest Earned

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Interest / discount on advances/ bills 166124,58,30 144958,59,17
II. Income on Investments 80243,50,66 75036,61,62
III. Interest on balances with Reserve Bank of India and other inter-bank funds 1324,75,88 2410,75,18
IV. Others 5629,29,52 6564,31,69
TOTAL 253322,14,36 228970,27,66
Schedule 14 - Other Income

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Commission, exchange and brokerage 22801,37,60 22829,85,38
II. Profit / (Loss) on sale of investments (Net) # 3933,13,61 14170,08,63
III. Profit / (Loss) on revaluation of investments (Net) (2124,03,82) (1120,61,02)
IV. Profit /(Loss) on sale of land, building and other assets including leased assets (net) (32,35,82) (30,73,27)
V. Profit / (Loss) on exchange transactions (Net) 2209,07,07 2522,45,61
VI. Dividends from Associates in India/ abroad 11,71,87 15,45,97
VII. Income from Finance Lease - -
VIII. Credit Card membership/ service fees 3179,78,08 2126,48,67
IX. Insurance Premium Income (net) 35225,02,54 26925,87,69
X. Recoveries made in Write-off Accounts 8607,44,37 5522,46,46
XI. Miscellaneous Income 3554,06,08 4596,04,92
TOTAL 77365,21,58 77557,39,04
2TQV.QUUQPUCNGQHKPXGUVOGPVU0GVKPENWFGUGZEGRVKQPCNKVGOQH
` 466.48 crore (Previous year ` 5036.21 crore)
Schedule 15 - Interest Expended

CONSOLIDATED 189
recognised as per the local laws of the country in which 1.10 The sale of NPA is accounted as per guidelines
the respective foreign offices/entities are located. prescribed by RBI:-
1.2 Interest/Discount income is recognised in the Profit and i. When the bank sells its financial assets to Securitisation
Loss Account as it accrues except (i) income from Non- Company (SC)/Reconstruction Company (RC), the
Performing Assets (NPAs), comprising of advances, same is removed from the books.
leases and investments, which is recognised upon
ii. If the sale is at a price below the net book value (NBV)
realisation, as per the prudential norms prescribed by
(i.e., book value less provisions held), the shortfall is
the RBI/ respective country regulators in the case of
debited to the Profit and Loss Account in the year of
foreign offices/entities (hereafter collectively referred
sale
to as Regulatory Authorities), (ii) overdue interest
on investments and bills discounted, (iii) Income on iii. If the sale is for a value higher than the NBV, the excess
Rupee Derivatives designated as “Trading”, which are provision is written back in the year the amounts are
accounted on realisation . received, as permitted by the RBI.
1.3 Profit or Loss on sale of investments is recognised in 1.11 Non-banking entities:
the Profit and Loss Account. However, the profit on
sale of investments in the ‘Held to Maturity’ category Merchant Banking:
is appropriated (net of applicable taxes and amount a. Issue management and advisory fees are recognised
required to be transferred to statutory reserve) to based on the stage of completion of assignments and
‘Capital Reserve Account’. as per the terms of the agreement with the client, net
1.4 Income from finance leases is calculated by applying of pass-through.
the interest rate implicit in the lease to the net b. Fees for private placement are recognised on
investment outstanding in the lease, over the primary completion of assignment.
lease period. Leases effective from April 1, 2001 are
accounted as advances at an amount equal to the net c. Brokerage income in relation to stock broking activity
investment in the lease as per Accounting Standard is recognized on the trade date of transaction and
19 – “Leases”, issued by ICAI. The lease rentals are includes stamp duty, transaction charges and is net of
apportioned between principal and finance income scheme incentives paid.
based on a pattern reflecting a constant periodic d. Commission relating to public issues is accounted for
return on the net investment outstanding in respect on finalisation of allotment of the public issue/receipt
of finance leases. The principal amount is utilized for of information from intermediary.
reduction in balance of net investment in lease and
finance income is reported as interest income. e. Brokerage income relating to public issues/mutual
fund/other securities is accounted for based on
1.5 Income (other than interest) on investments in “Held to mobilisation and intimation received from clients/
Maturity” (HTM) category acquired at a discount to the intermediaries.
face value, is recognised as follows:
f. Depository income – Annual Maintenance Charges are
i. On Interest bearing securities, it is recognised only at recognised on accrual basis and transaction charges
the time of sale/ redemption. are recognised on trade date of transaction.
ii. On zero-coupon securities, it is accounted for over the
balance tenor of the security on a constant yield basis. Asset Management:
1.6 Dividend income is recognised when the right to a. Management fee is recognised at specific rates
receive the dividend is established. agreed with the relevant schemes, applied on the
average daily net assets of each scheme (excluding
1.7 Commission on LC/ BG, Deferred Payment Guarantee, inter-scheme investments, wherever applicable,
Government Business, ATM interchange fee & investments made by the company in the respective
‘Upfront fee on restructured account’ are recognised scheme and deposits with Banks), and are in
on accrual basis proportionately for the period. All conformity with the limits specified under SEBI (Mutual
other commission and fee income are recognised on Funds) Regulations, 1996.
their realisation.
b. Portfolio Advisory Services, Portfolio Management
1.8 One time Insurance Premium paid under Special Services and Management Fees on Alternative
Home Loan Scheme (December 2008 to June 2009) is Investment Fund (AIF) are recognised on accrual basis
amortised over average loan period of 15 years. as per the terms of the contract.
1.9 Brokerage, Commission etc. paid/incurred in c. Recovery, if any, on realisation of devolved investments
connection with issue of Bonds/Deposits are amortized of schemes acquired by the company, in terms of the
over the tenure of the related Bonds/Deposits and the right of subrogation, is accounted on the basis of
expenses incurred in connection with the issue are receipts. Recovery from funded guarantee schemes is
charged upfront. recognised as income in the year of receipt.
190 CONSOLIDATED
d. Expenses of schemes in excess of the stipulated rates d. Realised gains and losses in respect of equity
and expenses relating to new fund offer are charged to securities and units of mutual funds are calculated as
the Profit and Loss Account in the year in which they the difference between the net sales proceeds and
are incurred in accordance with the requirements of their cost. In respect of debt securities, the realised
SEBI (Mutual Funds) Regulations, 1996. gains and losses are calculated as difference between
net sale proceeds or redemption proceeds and
Brokerage and/or incentive paid on investments in
weighted average amortised cost. Cost in respect of
open-ended Equity Linked Tax Saving Schemes and
equity shares and units of mutual fund are computed
Systematic Investment Plans (SIPs) are amortised over
using the weighted average method.
a period of 36 months and in case of other schemes,
over the claw back period. In case of close-ended e. Fees received on lending of equity shares under
schemes, brokerage is amortised over the tenure of Securities Lending and Borrowing scheme (SLB) is
schemes. recognised as income over the period of the lending
on straight-line basis.
Credit Card Operations:
f. Premium ceded on reinsurance is accounted in
a. First annual fee and subsequent renewal fee are accordance with the terms of the re-insurance treaty
recognised over a period of one year as this more or in-principle arrangement with the re-insurer.
closely reflects the period to which the fee relates to.
g. Benefits paid:
b. Interchange income is recognised on accrual basis.
u Claims cost consist of the policy benefit amounts
c. The total unidentified receipts which could not be and claims settlement costs, where applicable.
credited or adjusted in the customers’ accounts for
u Claims by death and rider are accounted when
lack of complete & correct information is considered
intimated. Intimations up to the end of the period
as liability in balance sheet. The estimated unidentified
are considered for accounting of such claims.
receipts aged more than 6 months and up to 3 years
towards the written off customers is written back as u Claims by maturity are accounted on the policy
income on balance sheet date. Further, the unresolved maturity date.
unidentified receipts aged more than 3 years are also
u Survival and Annuity benefits claims are
written back as income on balance sheet date. The
liability for stale cheques aged for more than three accounted when due.
years is written back as income. u Surrenders and withdrawals are accounted as
d. All other service income/fees are recorded at the time and when intimated. Benefits paid also includes
of occurrence of the respective events. amount payable on lapsed policies which are
accounted for as and when due. Surrenders,
Factoring: withdrawals and lapsation are disclosed at net of
charges recoverable.
Factoring charges are accrued on factoring of debts at the
u Repudiated claims disputed before judicial
applicable rates as decided by the company. Processing
fees are recognised as income only when there is reasonable authorities are provided for based on management
certainty of its receipt after execution of documents. Facility prudence considering the facts and evidences
Continuation fees (FCF) are calculated and charged in the available in respect of such claims.
month of May for the entire next financial year on all live u Amounts recoverable from re-insurers are
standard accounts. 1st of May is deemed as date for accrual accounted for in the same period as the related
of the FCF. claims and are reduced from claims.
Life Insurance: h. Acquisition costs such as commission, medical

fees, etc. are costs that are primarily related to the
a. Premium of non-linked business is recognised as acquisition of new and renewal insurance contracts.
income (net of service tax/ goods and service tax) when The same are expensed in the period in which they are
due from policyholders. In respect of linked business, incurred.
premium income is recognised when the associated
units are allotted. In case of Variable Insurance Products i. Liability for life policies: The actuarial liability of all
(VIPs), premium income is recognised on the date the life insurance policies has been calculated by the
when the Policy Account Value is credited. Uncollected Appointed Actuary in accordance with the Insurance
premium from lapsed policies is not recognised as Act 1938, and as per the rules and regulations and
income until such policies are revived. circulars issued by IRDAI and the relevant Guidance
Notes and/or Actuarial Practice Standards (APS)
b. Top-up premiums are considered as single premium. issued by the Institute of Actuaries of India.
c. Income from linked funds which includes fund Non-linked business is reserved using a prospective
management charges, policy administration charges, gross premium valuation method. Mathematical
mortality charges, etc. are recovered from linked fund reserves are calculated based on future assumptions
in accordance with terms and conditions of policy and having regard to current and future experience. The
recognised when recovered.
CONSOLIDATED 191
unit liability in respect of linked business has been Amounts received/receivable from the re-insurers/
considered as the value of the units standing to the co-insurers, under the terms of the reinsurance and
credit of the policy holders, using the Net Asset Value coinsurance arrangements respectively, is recognised
(NAV) as on the valuation date. Variable insurance together with the recognition of claim. Provision for
policies (VIPs) have also been valued in a manner claims outstanding payable as on the date of Balance
similar to the ULIP business by considering liability as Sheet is net of reinsurance, salvage value and other
the policy account standing to the credit of the policy recoveries as estimated by the management.
holders plus additional provisions for adequacy of
g. Provision in respect of claim liabilities that may have
charges to meet expenses.
been incurred before the end of the accounting year
but are
General Insurance:
- not yet reported or claimed (IBNR) or
a. Premium including reinsurance accepted (net of
goods & service tax) is recorded in the books at - not enough reported i.e. reported with information
the commencement of risk. In case the premium insufficient for making a reasonable estimate of
is recovered in instalments, amount to the extent likely claim amount (IBNER),
of instalment due is recorded on the due date of
the instalment. Premium (net of goods & service The provision is made according to the amount
tax), including reinstatement premium, on direct determined by the Appointed Actuary based on
business and reinsurance accepted, is recognized actuarial principles in accordance with the Actuarial
as income over the contract period or the period of Practice Standards and Guidance Notes issued by the
risk, whichever is appropriate, on a gross basis under Institute of Actuaries of India and IRDAI regulations
1/365 method. Any subsequent revision to premium and guidelines.
is recognized over the remaining period of risk or
contract period. Adjustments to premium income Custody & Fund accounting services:
arising on cancellation of policies are recognised in The revenue (net of goods & service tax) is recognised to the
the period in which they are cancelled. extent that it is probable that the economic benefits will flow
b. Commission received on reinsurance ceded is to the company and the revenue can be reliably measured.
recognised as income in the period in which
reinsurance risk is ceded. Profit commission under re- Pension Fund Operation:
insurance treaties, wherever applicable, is recognized Management fee is recognized at specific rates agreed with
as income in the year of final determination of the the relevant schemes, applied on daily net assets of each
profits as intimated by Reinsurer and combined with scheme, and is in conformity with the regulatory guidelines
commission on reinsurance ceded. issued by Pension Fund Regulatory and Development
c. In respect of proportional reinsurance ceded, the cost Authority (PFRDA). The Company presents revenues net of
of reinsurance ceded is accrued at the commencement Service Tax/ goods and service tax
of risk. Non-proportional reinsurance cost is
recognized when due. Non-proportional reinsurance Trustee Operations:
cost is accounted as per the terms of the reinsurance a. Mutual Fund Trusteeship fee is recognised at specific
arrangements. Any subsequent revision to, refunds or rates agreed with relevant schemes, applied on the
cancellations of premiums is recognized in the period average daily Net Assets of each scheme (excluding
in which they occur. inter-scheme investment, investment in fixed deposits,
d. Reinsurance inward acceptances are accounted for investments made by the Asset Management Company
on the basis of returns, to the extent received, from and deferred revenue expenses, where applicable),
the insurers. and is in conformity with the limits specified under
SEBI (Mutual Funds) Regulations, 1996.
e. Acquisition costs are expensed in the period in which
they are incurred. Acquisition costs are defined as b. Corporate Trusteeship Acceptance fees are
costs that vary with, and are primarily related to the recognised on the acceptance or execution of
acquisition of new and renewal insurance contracts trusteeship assignment whichever is earlier. Corporate
viz. commission. The primary test for determination as Trusteeship service charges are recognised/accrued
acquisition cost is the obligatory relationship between on the basis of terms of trusteeship contracts/
the costs and the execution of the insurance contracts agreements entered into with clients.
(i.e. commencement of risk). c. Income from online “will” services is recognised
f. Claim is recognised as and when a loss occurrence is when the right to receive the fee is established, as all
reported. Claim is recognised by creation of provision certainty for revenue recognition is present at the time
for the amount of claim payable as estimated by the of establishment of such right.
management based on available information and past
experience, on receipt of claim notification. Such
provision is reviewed / modified as appropriate on the
basis of additional information as and when available.
192 CONSOLIDATED
Infrastructure and Facility Management: 2.3 Valuation:

Revenue from management and consultancy fees is A. Banking Business:
recognised as and when the said contractual work is
i. In determining the acquisition cost of an
awarded to the vendor and the agreed scope of work is
investment:
completed by the vendor.
a. Brokerage/commission received on subscriptions
Merchant Acquiring Business: is reduced from the cost.
a. The revenue is measured on basis of consideration b. Brokerage, commission, securities transaction
received or receivable for the services provided, tax, etc. paid in connection with acquisition of
excluding discounts, GST and other applicable taxes investments are expensed upfront and excluded
and are recognised upon performance of services. from cost.
b. The revenue from deployment of POS is recognised c. Broken period interest paid / received on debt
either over the period during which the service is instruments is treated as interest expense/income
rendered or on basis of the number of transactions and is excluded from cost/sale consideration.
processed during the period in accordance with the
rates and conditions specified in the agreements d. Cost of investment under AFS and HFT category
is determined at the weighted average cost
c. Income received but not accrued on account of method by the group entities and cost of
maintenance deployment contract are recognised as investments under HTM category is determined
deferred revenue and included in liabilities until the on FIFO basis (first in first out) by SBI and
revenue recognition criteria are met. Income accrued weighted average cost method by other group
but not billed represents revenue recognised on work entities.
performed but billed in subsequent period based on
terms of contract. ii. Transfer of securities from HFT/AFS category
to HTM category is carried out at the lower of
d. Revenue of providing services of Merchant Acquiring acquisition cost/book value/market value on the
are recognised on fully loaded cost plus mark up on date of transfer. The depreciation, if any, on such
such costs transfer is fully provided for. However, transfer of
securities from HTM category to AFS category
e. Revenue is recognised to the extent it is probable
is carried out on acquisition price/book value.
that the economic benefits will flow and the revenue
After transfer, these securities are immediately
can be reliably measured
revalued and resultant depreciation, if any, is
provided.
2. Investments:
iii. Treasury Bills and Commercial Papers are valued
The transactions in all securities are recorded on “Settlement
at carrying cost.
Date”
iv. Held to Maturity category: Investments
2.1 Classification:
under Held to Maturity category are carried at
Investments are classified into three categories, viz. Held to acquisition cost unless it is more than the face
Maturity (HTM), Available for Sale (AFS) and Held for Trading value, in which case the premium is amortised
(HFT) as per RBI Guidelines. over the period of remaining maturity on constant
yield basis. Such amortisation of premium
2.2 Basis of classification:
is adjusted against income under the head
i. Investments that the Bank intends to hold till maturity “interest on investments”. A provision is made
are classified as “Held to Maturity (HTM)”. for diminution, other than temporary, for each
investment individually. Investments in Regional
ii. Investments that are held principally for resale within Rural Banks (RRBs) are valued at equity cost
90 days from the date of purchase are classified as determined in accordance with AS 23 of the ICAI.
“Held for Trading (HFT)”.
v. Available for Sale and Held for Trading categories:
iii. Investments, which are not classified in the above two Investments held under AFS and HFT categories
categories, are classified as “Available for Sale (AFS)”. are individually revalued at the market price or fair
iv. An investment is classified as HTM, HFT or AFS at the value determined as per Regulatory guidelines,
time of its purchase and subsequent shifting amongst and only the net depreciation of each group for
categories is done in conformity with regulatory each category (viz., (i) Government securities
guidelines. (ii) Other Approved Securities (iii) Shares (iv)
Bonds and Debentures (v) Subsidiaries and
Joint Ventures; and (vi) others) is provided for
and net appreciation, is ignored. On provision
for depreciation, the book value of the individual
security remains unchanged after marking to
market.
CONSOLIDATED 193
vi. In case of sale of NPA (financial asset) are accounted as interest expenditure/income, as the
to Securitisation Company (SC)/ Asset case may be. Balance in Repo A/c is classified under
Reconstruction Company (ARC) against issue Schedule 4 (Borrowings) and balance in Reverse Repo
of Security Receipts (SR), investment in SR A/c is classified under Schedule 7 (Balance with Banks
is recognised at lower of (i) Net Book Value and Money at Call & Short Notice).
(NBV) (i.e., book value less provisions held) of
b. Interest expended/earned on Securities purchased/
the financial asset and (ii) Redemption value of
sold under LAF with RBI is accounted for as
SR. SRs issued by an SC/ARC are valued in
expenditure/ revenue.
accordance with the guidelines applicable to
non-SLR instruments. Accordingly, in cases Market repurchase and reverse repurchase
where the SRs issued by the SC/ARC are limited transactions as well as the transactions with RBI under
to the actual realisation of the financial assets Liquidity Adjustment Facility (LAF) are accounted for as
assigned to the instruments in the concerned Borrowings and Lending transactions in accordance
scheme, the Net Asset Value, obtained from with the extant RBI guidelines.
the SC/ARC, is reckoned for valuation of such
investments. B. Insurance Business:
vii. Investments are classified as performing and In case of life and general insurance subsidiaries,
non-performing, based on the guidelines issued investments are accounted in accordance with
by the RBI in the case of domestic offices/entities the Insurance Act, 1938, the IRDAI (Investment)
and respective regulators in the case of foreign Regulations, 2016 and IRDA (Presentation of Financial
offices/entities. Investments of domestic offices Statements and Auditor’s Report of Insurance
become non-performing where: Companies) Regulations, 2002, investment policy of
the company and various other circulars / notifications
a. Interest/instalment (including maturity proceeds) as issued by IRDAI from time to time.
is due and remains unpaid for more than 90 days.
(i) Valuation of investment pertaining to non-linked
b. In the case of equity shares, in the event the life insurance business and general insurance
investment in the shares of any company is business: -
valued at ` 1 per company on account of the
u All debt securities, including government securities
non-availability of the latest balance sheet, those
equity shares would be reckoned as NPI. and money market securities are stated at historical
cost subject to amortisation of premium or accretion
c. If any credit facility availed by an entity is NPA in of discount.
the books of the bank, investment in any of the
u Listed equity shares, equity related instruments and
securities issued by the same entity would also
be treated as NPI and vice versa. preference shares are measured at fair value on the
Balance Sheet date. For the purpose of determining
d. The above would apply mutatis-mutandis to fair value, the closing price at primary exchange i.e.
Preference Shares where the fixed dividend is National Stock Exchange of India Limited (‘NSE’)
not paid. is considered. If NSE closing price is not available,
the closing price of the secondary exchange i.e. BSE
e. The investments in debentures/bonds, which
Limited (‘BSE’) is considered.
are deemed to be in the nature of advance, are
also subjected to NPI norms as applicable to u Unlisted equity securities, equity related instruments
investments. and preference shares are measured at historical cost.
f. In respect of foreign offices/entities, provisions u In case of Security Lending and Borrowing (SLB),
for NPIs are made as per the local regulations equity shares lent are valued as per valuation policy
or as per the norms of RBI, whichever is more for equity shares as mentioned above.
stringent.
u Additional Tier 1 (Basel III compliant) Perpetual Bonds
classified under “Equity” as specified by IRDAI,
viii. Accounting for Repo/Reverse Repo are valued at prices obtained from Credit Rating
transactions (other than transactions under Information Services of India Limited (CRISIL).
the Liquidity Adjustment Facility (LAF) with
u Investments in mutual fund units are valued at the Net
the RBI)
Asset Value (NAV) of previous day in life insurance and
a. The securities sold and purchased under Repo/ of balance sheet date in general insurance.
Reverse Repo are accounted as Collateralized lending
u Investment in Alternative Investment Funds (AIFs) are
and borrowing transactions. However securities
are transferred as in the case of normal outright valued at latest available NAV.
sale/ purchase transactions and such movement of Unrealized gains or losses arising due to change in
securities is reflected using the Repo/Reverse Repo the fair value of listed equity shares, mutual fund units
Accounts and Contra entries. The above entries are and AIFs pertaining to shareholders’ investments
reversed on the date of maturity. Costs and revenues and non-linked policyholders investments are taken
194 CONSOLIDATED
to “Revenue & Other Reserves (Schedule 2)” and iii. In respect of bills purchased/discounted, the bill
“Liabilities relating to Policyholders in Insurance remains overdue for a period of more than 90
Business (Schedule 5)” respectively, in the Balance days;
Sheet.
iv. In respect of agricultural advances (a) for short
(ii) Valuation of investment pertaining to linked duration crops, where the instalment of principal
business: - or interest remains overdue for two crop
seasons; and (b) for long duration crops, where
u Debt Securities including Government securities with
the principal or interest remains overdue for one
remaining maturity of more than one year are valued at
crop season.
prices obtained from CRISIL. Debt securities including
Government securities with remaining maturity of less 3.2 NPAs are classified into Sub-Standard, Doubtful and
than one year are valued on yield to maturity basis, Loss Assets, based on the following criteria stipulated
where yield is derived using market price provided by RBI:
by CRISIL on the day when security is classified as
i. Sub-standard: A loan asset that has remained
short term. If security is purchased during its short
non-performing for a period less than or equal to
term tenor, it is valued at amortised cost using yield
12 months.
to maturity method. In case of securities with options,
earliest Call Option/Put Option date will be taken as ii. Doubtful: A loan asset that has remained in the
maturity date for this purpose. Money market securities sub-standard category for a period of 12 months.
are valued at historical cost subject to amortization of
premium or accretion of discount on yield to maturity iii. Loss: A loan asset where loss has been identified
basis. but the amount has not been fully written off.
u Listed equity shares, equity related instruments and 3.3 Provisions are made for NPAs as per the extant
preference shares are measured at fair value on the guidelines prescribed by the regulatory authorities,
Balance Sheet date. For the purpose of determining subject to minimum provisions as prescribed below:
fair value, the closing price at primary exchange Substandard Assets:
i.e. NSE is considered. If NSE closing price is not
available, closing price of the BSE is considered. i. A general provision of 15% on the total
outstanding;
u Unlisted equity shares, equity related instruments and
preference shares are measured at historical cost. ii. Additional provision of 10% for exposures which
are unsecured ab-initio (i.e. where realisable
u In case of Security Lending and Borrowing (SLB), value of security is not more than 10 percent ab-
equity shares lent are valued as per valuation policy initio);
for equity shares as mentioned above.
iii. Unsecured Exposure in respect of infrastructure
u Additional Tier 1 (Basel III compliant) Perpetual Bonds advances where certain safeguards such as
classified under “Equity” as specified by IRDAI, are escrow accounts are available – 20%.
valued at prices obtained from CRISIL.
Doubtful Assets:
u Investments in mutual fund units are valued at the
previous day’s Net Asset Value (NAV). -Secured portion:
u Unrealized gains or losses arising due to changes i. Upto one year – 25%
in the fair value are recognized in the Profit & Loss ii. One to three years – 40%
Account.
iii. More than three years – 100%
3. Loans /Advances and Provisions thereon: -Unsecured portion 100%
3.1 Loans and Advances are classified as performing and Loss Assets: 100%
non-performing, based on the guidelines/directives 3.4 In respect of foreign offices/entities, the classification
issued by the RBI. Loan Assets become Non- of loans and advances and provisions for NPAs are
Performing Assets (NPAs) where: made as per the local regulations or as per the norms
i. In respect of term loans, interest and/or of RBI, whichever is more stringent.
instalment of principal remains overdue for a 3.5 Advances are net of specific loan loss provisions,
period of more than 90 days; unrealised interest, ECGC claims received and bills
ii. In respect of Overdraft or Cash Credit advances, rediscounted.
the account remains “out of order”, i.e. if the 3.6 For restructured/rescheduled assets, provisions are
outstanding balance exceeds the sanctioned made in accordance with the guidelines issued by
limit/drawing power continuously for a period of the RBI, which require that the difference between
90 days, or if there are no credits continuously the fair value of the loan/advances before and after
for 90 days as on the date of balance-sheet, or if restructuring is provided for, in addition to provision
the credits are not adequate to cover the interest for the respective loans/advances. The Provision for
debited during the same period;
CONSOLIDATED 195
Diminution in Fair Value (DFV) and interest sacrifice, off-balance sheet assets and liabilities or for trading
if any, arising out of the above, is reduced from purposes. The swap contracts entered to hedge on-
advances. balance sheet assets and liabilities are structured in
such a way that they bear an opposite and offsetting
3.7 In the case of loan accounts classified as NPAs, an
impact with the underlying on-balance sheet items.
account may be reclassified as a performing asset
The impact of such derivative instruments is correlated
if it conforms to the guidelines prescribed by the
with the movement of the underlying assets and
regulators.
accounted in accordance with the principles of hedge
3.8 Amounts recovered against debts written off in accounting.
earlier years are recognised as revenue in the year of
6.2 Derivative contracts classified as hedge are recorded
recovery.
on accrual basis. Hedge contracts are not marked to
3.9 In addition to the specific provision on NPAs, general market unless the underlying assets / liabilities are
provisions are also made for standard assets as per also marked to market.
extant RBI Guidelines. These provisions are reflected
in Schedule 5 of the Balance Sheet under the head 6.3 Except as mentioned above, all other derivative
“Other Liabilities & Provisions – Others” and are not contracts are marked to market as per the Generally
considered for arriving at the Net NPAs. Accepted Accounting Practices prevalent in the
industry. In respect of derivative contracts that are
3.10 Appropriation of recoveries in NPAs (not out of fresh/ marked to market, changes in the market value are
additional credit facilities sanctioned to the borrower recognised in the Profit and Loss Account in the
concerned) towards principal or interest due as per period of change. Any receivable under derivatives
the Bank’s extant instructions is done in accordance contracts, which remain overdue for more than 90
with the following priority. days, are reversed through Profit and Loss Account
a. Charges to “Suspense Account - Crystallised Receivables”. In
cases where the derivative contracts provide for more
b. Unrealized Interest/Interest settlement in future and if the derivative contract is
c. Principal not terminated on the overdue receivables remaining
unpaid for 90 days, the positive MTM pertaining to
future receivables is also reversed from Profit and
4. Floating Provisions: Loss Account to “Suspense Account - Positive MTM”.
The Bank has a policy for creation and utilisation 6.4 Option premium paid or received is recorded in Profit
of floating provisions separately for advances, and Loss Account at the expiry of the option. The
investments and general purposes. The quantum of balance in the premium received on options sold
floating provisions to be created is assessed at the and premium paid on options bought is considered
end of the financial year. The floating provisions are to arrive at Mark to Market value for forex Over the
utilised only for contingencies under extra ordinary Counter (OTC) options.
circumstances specified in the policy with prior
permission of Reserve Bank of India. 6.5 Exchange Traded Derivatives entered into for trading
purposes are valued at prevailing market rates based
5. Provision for Country Exposure for Banking on rates given by the Exchange and the resultant
Entities: gains and losses are recognized in the Profit and Loss
Account.
In addition to the specific provisions held according
to the asset classification status, provisions are also 7. Fixed Assets Depreciation and Amortisation:
made for individual country exposures (other than
the home country). Countries are categorised into 7.1 Fixed Assets are carried at cost less accumulated
seven risk categories, namely, insignificant, low, depreciation/ amortisation.
moderate, high, very high, restricted and off-credit 7.2 Cost includes cost of purchase and all expenditure
and provisioning made as per extant RBI guidelines. such as site preparation, installation costs and
If the country exposure (net) of the Bank in respect of professional fees incurred on the asset before it is
each country does not exceed 1% of the total funded put to use. Subsequent expenditure(s) incurred on
assets, no provision is maintained on such country the assets put to use are capitalised only when it
exposures. The provision is reflected in Schedule increases the future benefits from such assets or their
5 of the Balance Sheet under the “Other liabilities & functioning capability.
Provisions – Others”.
7.3 The rates of depreciation and method of charging
6. Derivatives: depreciation in respect of domestic operations are as
under:
6.1 The Bank enters into derivative contracts, such as
foreign currency options, interest rate swaps, currency
swaps, cross currency interest rate swaps and forward
rate agreements in order to hedge on-balance sheet/
196 CONSOLIDATED
Sr. Description of Fixed Method of Depreciation/ amortisation 7.10 The increase in Net Book Value of the asset due to
No. Assets charging rate revaluation is credited to the Revaluation Reserve
depreciation Account without routing through the profit and loss
1 Computers Straight Line 33.33% every year statement.
Method 7.11 The Revalued Assets is depreciated over the balance
2 Computer Software Straight Line 33.33% every year useful life of the asset as assessed at the time of
forming an integral part of Method revaluation.
the Computer hardware
3 Computer Software Straight Line 33.33% every year 8. Leases:
which does not form an Method
integral part of Computer The asset classification and provisioning norms
hardware and cost of applicable to advances, as laid down in Para 3 above,
Software Development are applied to financial leases also.
4 Automated Teller Straight Line 20.00% every year
Machine/ Cash Deposit Method
9. Impairment of Assets:
Machine/Coin Dispenser / Fixed Assets are reviewed for impairment whenever
Coin Vending Machine events or changes in circumstances warrant that the
5 Servers Straight Line 25.00% every year carrying amount of an asset may not be recoverable.
Method Recoverability of assets to be held and used is
6 Network Equipment Straight Line 20.00% every year measured by a comparison of the carrying amount
Method of an asset to future Net Discounted Cash Flows
7 Other fixed assets Straight Line On the basis of estimated useful expected to be generated by the asset. If such assets
Method life of the assets. are considered to be impaired, the impairment to be
Estimated useful life of major recognised is measured by the amount by which the
group of Fixed Assets are as carrying amount of the asset exceeds the fair value of
under: the asset.
Premises 60 Years
Vehicles 05 Years
10. Effect of changes in the foreign exchange rate:
Safe Deposit 10.1 Foreign Currency Transactions
20 Years
Lockers
i. Foreign currency transactions are recorded
Furniture &
10 Years on initial recognition in the reporting currency
Fixtures
by applying to the foreign currency amount
the exchange rate between the reporting
7.4 In respect of assets acquired during the year for
currency and the foreign currency on the date of
domestic operations, depreciation is charged on
transaction.
proportionate basis for the number of days assets
have been put to use during the year. ii. Foreign currency monetary items are reported
using the Foreign Exchange Dealers Association
7.5 Assets costing less than ` 1,000 each are charged off
of India (FEDAI) closing (spot/forward) rates.
in the year of purchase.
iii. Foreign currency non-monetary items, which are
7.6 In respect of leasehold premises, the lease premium,
carried at historical cost, are reported using the
if any, is amortised over the period of lease and the
exchange rate on the date of the transaction.
lease rent is charged in the respective year (s).
iv. Contingent liabilities denominated in foreign
7.7 In respect of assets given on lease by the Bank on or
currency are reported using the FEDAI closing
before 31st March 2001, the value of the assets given
spot rates.
on lease is disclosed as Leased Assets under Fixed
Assets, and the difference between the annual lease v. Outstanding foreign exchange spot and forward
charge (capital recovery) and the depreciation is taken contracts held for trading are revalued at the
to Lease Equalisation Account. exchange rates notified by FEDAI for specified
maturities, and the resulting Profit or Loss is
7.8 In respect of fixed assets held at foreign offices/
recognised in the Profit and Loss account.
entities, depreciation is provided as per the regulations
/norms of the respective countries. vi. Foreign exchange forward contracts which are
not intended for trading and are outstanding
7.9 The Bank considers only immovable assets for
on the Balance Sheet date, are re-valued at
revaluation. Properties acquired during the last three
the closing spot rate. The premium or discount
years are not revalued. Valuation of the revalued
arising at the inception of such a forward
assets is done at every three years thereafter.
exchange contract is amortised as expense or
income over the life of the contract.
CONSOLIDATED 201
Sr. Name of the Associate Group’s Stake (%)

No. Country of Current Previous
Incorporation Year Year
11) Saurashtra Gramin Bank India 35.00 35.00
12) Utkal Grameen Bank India 35.00 35.00
13) Uttarakhand Gramin Bank India 35.00 35.00
14) Vananchal Gramin Bank India 35.00 35.00
15) Rajasthan Marudhara Gramin Bank India 35.00 35.00
16) Telangana Grameena Bank India 35.00 35.00
17) Kaveri Grameena Bank India 35.00 35.00
18) Malwa Gramin Bank (upto 31.12.2018) India 35.00 35.00
19) The Clearing Corporation of India Ltd. India 20.05 20.05
20) Bank of Bhutan Ltd. Bhutan 20.00 20.00
a) In the month of April 2018, State Bank of India Payments Service Private Limited. Resultantly,
(UK) Limited (a wholly owned subsidiary) has the stake of SBI Group in SBIPSPL has reduced
commenced its operation. SBI has infused GBP from 100% to 74.00%.
17.50 crore equivalent to ` 1,604.43 crore as paid
e) In the month of September 2018, SBI sold its
up capital in State Bank of India (UK) Limited.
4.00% stake in SBI General Insurance Company
b) In the month of May 2018, SBI has infused Limited (a subsidiary). The stake of SBI group
` 30 crore in Jio Payments Bank Limited (a joint in SBI General Insurance Company Limited has
venture). The SBI Group’s stake in Jio Payments reduced from 74.00% to 70.00%.
Bank Limited remains the same.
f) In the month of December 2018, SBI has infused
c) In the month of August 2018, SBI has infused ` 30 crore in SBI Infra Management Solutions
` 347.80 crore in SBI Cards and Payment Private Limited. The SBI Group’s stake in SBI
Services Private Limited (a subsidiary). The SBI Infra Management Solutions Private Limited
Group’s stake in SBI Cards & Payment Services remains the same.
Private Limited remains the same.
g) In the month of February 2019, SBI Capital
d) In the month of August 2018, SBI has infused Markets Limited (a subsidiary) has infused
` 2.50 crore in SBI Payment Services Private ` 10.70 crore in SBICAP Ventures Limited (a
Limited (SBIPSPL) (a subsidiary). subsidiary). The SBI Group’s stake in SBICAP
Ventures Limited remains the same.
SBI has transferred its merchant acquiring
business (MAB) to SBIPSPL pursuant to a h) During the year, SBI has infused additional
business transfer agreement dated September capital in the following Regional Rural Bank
29, 2018 for a consideration of ` 1,250 crore (RRBs) sponsored by it :-
which has been since realized by SBI.
In the month of January 2019, SBIPSPL issued
15,81,082 equity shares of face value of ` 10 each
at a price of ` 9,819.86 per share including the
share premium of ` 9,809.86 per share to Hitachi
Regional Rural Banks Amount

Utkal Grameena Bank 63.14
Madhyanchal Gramin Bank 57.63
Rajasthan Marudhara Gramin Bank 7.28
Nagaland Rural Bank 0.65
TOTAL 128.70
202 CONSOLIDATED
The SBI Group’s stakes remains the same after the aforesaid capital infusion.
i) In accordance with notification issued by Govt. of India, the following amalgamations have taken place in between the
Regional Rural Banks (RRBs) sponsored by SBI and RRBs sponsored by other banks :
The details of amalgamation of RRBs, where the transferee RRBs are not sponsored by SBI are as below:-
Name of transferor RRBs Sponsor Bank New Name Sponsor Bank Effective
of transferor after of transferee Date of
RRBs Amalgamation RRBs Amalgamation
of RRBs
1. Punjab Gramin Bank Punjab National

Bank
Malwa Gramin Bank State Bank of Punjab Gramin Punjab National 1st January
India Bank Bank ,2019
Sutlej Gramin Bank Punjab & Sind

Bank
2 Pragathi Krishna Gramin Bank Canara Bank

Karnataka
Kaveri Grameena Bank State Bank of Canara Bank 1st April ,2019
Gramin Bank
India
3 Assam Gramin Vikash Bank United Bank of

India Assam Gramin United Bank of
1st April ,2019
Langpi Dehangi Rural Bank State Bank of Vikash Bank India
India
The details of amalgamation of RRBs, where the transferee RRB is sponsored by SBI are as below:-
1 Jharkhand Gramin Bank Bank of India Jharkhand

State Bank of
Vananchal Gramin Bank State Bank of Rajya Gramin 1st April ,2019
India
India Bank
j) SBI Home Finance Ltd., an associate in which SBI 2. Share capital:

is having 25.05% stake, is under liquidation and
a) SBI received application money of ` 0.38 crore
therefore, not being considered for consolidation
including share premium of ` 0.38 crore by way of
in preparation of Consolidated Financial
the issue of 24,000 equity shares of ` 1 each kept in
Statements as per Accounting Standard 21.
abeyance due to various title disputes or third party
k) As SBI Foundation is a Not-for-Profit Company claims out of the Right Issue closed on 18.03.2008.
[incorporated under section 7(2) of Companies The equity shares kept in abeyance were allotted on
Act, 2013], SBI Foundation is not being 31.01.2019.
considered for consolidation in preparation
b) Expenses in relation to the issue of shares: ` 9.12
of Consolidated Financial statements as per
crore (Previous Year ` 17.60 crore) is debited to Share
Accounting Standard 21.
Premium Account.
1.2 The consolidated financial statements for the
financial year 2018-19 of the Group include
unaudited financial statements of one subsidiary
(SBI Canada Bank) & three associates (including
Bank of Bhutan Ltd. and two Regional Rural
Banks), the results of which are not material.
CONSOLIDATED 203
3. Disclosures as per Accounting Standards

3.1 Accounting Standard- 15 “Employee Benefits”:
3.1.1 Defined Benefit Plans
3.1.1.1 Employee’s Pension Plans and Gratuity Plans
The following table sets out the status of the Defined Benefit Pension Plans and Gratuity Plan as required under AS 15 (Revised 2005) :-
` in crore
Particulars Pension Plans Gratuity Plans
Opening defined benefit obligation at 1st April 2018 87,786.56 83,870.13 13,025.81 9,929.61
Adjustment for SBI Business Process Management Pvt Ltd.* - - - 8.70
Interest Cost 6,812.24 6,248.32 1,012.43 722.05
Past Service Cost (Vested Benefit) - - - 3,614.64
Liability transferred In/ Acquisitions - - - 1.20
Actuarial losses /(gains) 6,434.95 3,338.70 (89.76) (9.83)
Benefits paid (3,966.53) (4,190.43) (2,000.50) (1,543.31)
Direct Payment by SBI (2,765.64) (2,458.35) - -
Closing defined benefit obligation at 31 March 2019
st
95,362.15 87,786.56 12,378.30 13,025.81
Opening fair value of plan assets at 1st April 2018 85,249.60 79,303.20 9,263.16 9,863.77
Adjustment for SBI Business Process Management Pvt Ltd. * - - - 6.21
Expected Return on Plan assets 6,615.37 5,908.09 721.37 717.37
Contributions by employer 2,391.18 4,363.81 2,404.93 243.49
Assets transferred In/Acquisitions - - - 2.01
Expected Contribution by the employees 0.34 - - -
Benefits Paid (3,966.53) (4,190.43) (2,000.50) (1,543.32)
Actuarial Gains / (Losses) on plan assets 109.65 (135.07) 104.50 (26.37)
Closing fair value of plan assets at 31 March 2019
st
90,399.61 85,249.60 10,493.46 9,263.16
Reconciliation of present value of the obligation and fair
value of the plan assets
Present Value of funded obligation at 31st March 2019 95,362.15 87,786.56 12,378.30 13,025.81
Fair Value of plan assets at 31 March 2019
st
90,399.61 85,249.60 10,493.46 9,263.16
Deficit/(Surplus) 4,962.54 2,536.96 1,884.84 3,762.65
Net Liability/(Asset ) 4,962.54 2,536.96 1,884.84 1,055.15
Amount Recognised in the Balance Sheet
Liabilities 95,362.15 87,786.56 12,378.30 13,025.81
Assets 90,399.61 85,249.60 10,493.46 9,263.16
Net Liability / (Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,884.84 3,762.64
Net Liability/ (Asset) 4,962.54 2,536.96 1,884.84 1,055.15
204 CONSOLIDATED
` in crore
Particulars Pension Plans Gratuity Plans
Interest Cost 6,812.24 6,248.32 1,012.43 722.05
Expected return on plan assets (6,615.37) (5,908.09) (721.37) (717.37)
Expected Contributions by the employees (0.34) - - -
Past Service Cost (Amortised) Recognised - - - 0.05
Past Service Cost (Vested Benefits) Recognised - - 2,707.50 907.09
Net Actuarial Losses / (Gains) recognised during the year 6,325.30 3,473.77 (194.26) 16.54
Total costs of defined benefit plans included in Schedule 16 7,582.40 4,792.19 3,234.62 1,231.11
“Payments to and provisions for employees”
Reconciliation of expected return and actual return on Plan
Assets
Actuarial Gains/ (Losses) on Plan Assets 109.65 (135.07) 104.50 (26.37)
Actual Return on Plan Assets 6,725.02 5773.02 825.87 691.00
Reconciliation of opening and closing net liability/(asset)
recognised in Balance Sheet
Opening Net Liability/(Asset) as at 1st April 2018 2,536.96 4,566.93 1,055.15 65.84
Adjustment for SBI Business Process Management Pvt Ltd.* - - - 2.50
Expenses as recognised in profit and loss account 7,582.40 4,792.19 3,234.62 1231.11
Paid by SBI Directly (2,765.64) (2,458.35) - -
Debited to Other Provision - - - -
Recognised in Reserve - - - -
Net Liability/ (Asset) transferred in - - - (0.81)
Employer’s Contribution (2,391.18) (4,363.81) (2,404.93) (243.49)
Net liability/(Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,884.84 1,055.15
* Adjustment is due to change in method of consolidation in case of SBI Business Process Management Services Pvt Ltd from
Proportionate line-by-line consolidation to Total line-by-line consolidation
Investments under Plan Assets of Gratuity Fund & Pension Fund as on March 31, 2019 are as follows:
Category of Assets Pension Fund Gratuity Fund

% of Plan Assets % of Plan Assets
Central Govt. Securities 23.69% 18.49%
State Govt. Securities 31.40% 33.42%
Debt Securities, Money Market Securities and Bank Deposits 31.93% 22.92%
Mutual Funds 2.39% 4.02%
Insurer Managed Funds 2.63% 16.71%
Others 7.96% 4.44%
TOTAL 100.00% 100.00%
CONSOLIDATED 205
Principal actuarial assumptions:
Particulars Pension Plans


Pension Escalation Rate 0.40% -
Particulars Gratuity Plans


In case of SBI, as the plan assets are marked to market on the ` in crore
basis of the yield curve derived from government securities, the
expected rate of return has been kept the same as the discount Particulars Provident Fund
rate. Current Year Previous Year
Employee Contribution 1377.59 1,396.25
The estimates of future salary growth, factored in actuarial (including VPF)
valuation, take account of inflation, seniority, promotion and other
relevant factors such as supply and demand in the employment Liability Transferred In - 3,309.05
market. Such estimates are very long term and are not based on Actuarial losses/(gains) - 25.56
limited past experience / immediate future. Empirical evidence also Benefits paid (4220.11) (4,070.79)
suggests that in the very long term, consistent high salary growth
rates are not possible. The said estimates and assumptions have Closing defined benefit 30,928.72 30,298.66
been relied upon by the auditors. obligation at 31st March 2019
With a view to further strengthen the Pension Fund, it was decided
Opening fair value of Plan 31,874.25 27,221.93
to upwardly revise some of the assumptions.
Assets as at 1st April 2018
Expected Return on Plan 2,507.55 2,455.58
3.1.1.2 Employees Provident Fund
Assets
Actuarial valuation carried out in respect of interest Contributions 2,342.63 2,357.90
shortfall in Provident Fund Trust shows “Nil” liability,
hence no provision is made in F.Y. 2018-19. Transferred from other - 3,723.65
Companies
The following table sets out the status of Provident
Benefits Paid (4220.11) (4,070.79)
Fund as per the actuarial valuation by the independent
Actuaries:- Actuarial Gains / (Loss) on plan 126.22 185.98
Assets
` in crore
Closing fair value of plan 32,630.54 31,874.25
Particulars Provident Fund assets as at 31st March 2019
Current Year Previous Year Reconciliation of present
Change in the present value of value of the obligation and
the defined benefit obligation fair value of the plan assets
Opening defined benefit 30,298.65 26,221.36 Present Value of Funded 30,928.72 30,298.66
obligation at 1st April 2018 obligation at 31st March 2019
Current Service Cost 965.04 961.65 Fair Value of Plan assets at 31st 32,630.54 31,874.25
March 2019
Interest Cost 2507.55 2,455.58
Deficit/(Surplus) (1,701.82) (1,575.59)
206 CONSOLIDATED
(a) one half percent above the average standard rate

` in crore
(adjusted up or down to the interest one quarter per
Particulars Provident Fund cent) quoted by SBI for new deposits fixed for twelve
Current Year Previous Year months in the preceding year (ending on the preceding
the 31st day of March); or
Net Asset not recognised in 1,701.82 1,575.59
Balance Sheet (b) three percent per annum, subject to approval of
Executive Committee.
Net Cost recognised in the ii) The rules of the SBI Life Insurance Company Ltd.’s Provident
profit and loss account Fund administered by a Trust require that if the Board of
Trustees are unable to pay interest at the rate declared for
Employees’ Provident Fund by the Government under para
Interest Cost 2,507.55 2,455.58 60 of the Employees’ Provident Fund Scheme, 1952 for
Expected return on plan assets -2,507.55 (2,455.58) the reason that the return on investment is less or for any
other reason, then the deficiency shall be made good by the
Interest shortfall reversed - -
Company.
Total costs of defined benefit 965.04 961.65
plans included in Schedule 16 3.1.2 Defined Contribution Plans
"Payments to and provisions
for employees" 3.1.2.1 Employees Provident Fund
Reconciliation of opening An amount of ` 32.79 crore (Previous Year ` 28.59
and closing net liability/ crore) is contributed towards the Provident Fund
(asset) recognised in Scheme by the group (excluding the entities covered
Balance Sheet in Note 3.1.1.2) and is included under the head
Opening Net Liability as at 1st - - “Payments to and provisions for employees” in Profit
April 2018 and Loss Account.
Expense as above 965.04 961.65 3.1.2.2 Defined Contribution Pension Scheme

Employer's Contribution (965.04) (961.65) SBI has a Defined Contribution Pension Scheme
Net Liability/(Asset) - - (DCPS) applicable to all categories of officers and
Recognized In the Balance employees joining the SBI on or after August 1, 2010.
Sheet The Scheme is managed by NPS Trust under the aegis
of the Pension Fund Regulatory and Development
Investments under Plan Assets of Provident Fund as on Authority. National Securities Depository Limited
March 31, 2019 are as follows: has been appointed as the Central Record Keeping
Agency for the NPS. During the year, an amount of
Category of Assets Provident Fund ` 451.39 crore [Previous Year ` 390.00 crore] has
% of Plan Assets been contributed in the scheme.
Central Govt. Securities 35.34% 3.1.2.3 Accumulating Compensated Absences (Privilege

Leave)
State Govt. Securities 24.83%
Debt Securities, Money Market 31.74% The following table sets out the status of Accumulating
Securities and Bank Deposits Compensated Absences (Privilege Leave) as per
Actuarial valuation by independent Actuaries:
Mutual Funds 1.44%
Others 6.65%
TOTAL 100.00% ` in crore
Particulars Accumulating Compensated
Principal actuarial assumptions Absences (Privilege Leave)
Particulars Provident Fund
Change in the present value of
the defined benefit obligation
Opening defined benefit 6,248.59 4,760.18
Guaranteed Return 8.55% 8.65% obligation at 1st April 2018
Attrition Rate 2.00% 2.00% Current Service Cost 261.33 210.19
Salary Escalation 5.20% 5.00% Interest Cost 485.98 432.32
i) There is a guaranteed return applicable to liability under Liability transferred In/ - 1,188.49
SBI Employees Provident Fund which shall not be lower of Acquisitions
either: Actuarial losses/(gains) 741.84 593.93
CONSOLIDATED 207
` in crore
Particulars Accumulating
Compensated Absences
(Privilege Leave)
Current Previous
Year Year
Benefits paid (861.10) (936.51)

Closing defined benefit 6,876.64 6,248.59
obligation at 31st March 2019
Net Cost recognised in the
profit and loss account
Actuarial (Gain)/ Losses 741.84 593.93
Total costs of defined benefit 1489.15 1,236.44
plans included in Schedule 16
"Payments to and provisions
for employees"
Reconciliation of opening
and closing net liability/
(asset) recognised in
Balance Sheet
Opening Net Liability as at 1st 6,248.59 4,760.17
April 2018
Expense as above 1,489.15 1,236.44
Net Liability/ (Asset) transferred - 1,188.49
in
Employer's Contribution - -
Benefit paid directly by the (861.10) (936.51)
Employer
Net Liability/(Asset) 6,876.64 6,248.59
recognized in the Balance
Sheet
Principal actuarial assumptions:

Accumulating Compensated Absences (Privilege Leave)

(excluding the entities covered in above table)
An amount of ` 30.76 crore (Previous Year ` 36.17 crore) is
provided by the group (excluding the entities covered in above
table) towards Privilege Leave (Encashment) including leave
encashment at the time of retirement and is included under the
head “Payments to and provisions for employees” in Profit and
Loss Account.
4.2.3 2
CONSOLIDATED 211
` in crore Particulars Current Previous

Particulars As at As at Basic and diluted Year Year
March 31, 2019 March 31, 2018
Weighted average number 892,45,91,479 853,30,51,135
Less than 1 year 18.55 12.49 of shares used in computing
1 to 5 years 57.19 42.87 diluted earnings per share
5 years and above - - Net Profit/(Loss) for the Group 2,299.64 (4,556.29)
(` in crore)
Total 75.74 55.36
Basic earnings per share (`) 2.58 (5.34)
3.4.2 Operating Lease Diluted earnings per share (`) 2.58 (5.34)
Premises taken on operating lease are given Nominal value per share (`) 1.00 1.00
below:
Operating leases primarily comprise office premises 3.6 Accounting Standard-22 “Accounting for Taxes on
and staff residences, which are renewable at the Income”:
option of the group entities. i) During the year, ` 878.16 crore has been debited to
Liability for Premises taken on Non-Cancellable Profit and Loss Account (Previous Year ` 9,804.79
operating lease are given below: crore credited) on account of deferred tax.
` in crore ii) The breakup of deferred tax assets and liabilities into
major items is given below:
31.03.2019 31.03.2018 ` in crore
Not later than 1 year 188.39 208.53 Particulars As at As at
Later than 1 year and not 558.54 613.72 31.03.2019 31.03.2018
later than 5 years Deferred Tax Assets
Later than 5 years 120.46 252.46 Provision for long term 5,363.60 3,486.07
Total 867.39 1,074.71 employee Benefits
Provision for advances 4,404.39 4,415.43
Amount of lease payments recognised in the Profit & Loss
Account for the year is ` 3,522.61 crore Provision for Other 753.11 743.57
(Previous Year ` 3,440.01 crore). Assets/ Other Liability
On Accumulated Losses 10,863.94 13,889.32
3.5 Accounting Standard-20 “Earnings per Share”:
On Foreign Currency 235.77 -
The Bank reports basic and diluted earnings per Translation Reserve
equity share in accordance with Accounting Standard
Depreciation on Fixed 50.00 14.91
20 - “Earnings per Share”. “Basic earnings” per share
Assets
is computed by dividing consolidated net profit/ (loss)
after tax (other than minority) by the weighted average DTAs on account of FOs 277.68 317.04
number of equity shares outstanding during the year. of SBI
Others 220.38 207.56
Particulars Current Previous
Basic and diluted Year Year Total 22,168.87 23,073.90
Number of Equity Shares 892,45,87,534 797,35,04,442 Deferred Tax Liabilities

outstanding at the beginning Depreciation on Fixed 99.44 89.71
of the year Assets
Number of Equity Shares 24,000 95,10,83,092 Interest accrued but not 6,389.76 6,315.01
issued during the year due on securities
Number of Equity Shares 892,46,11,534 892,45,87,534 Special Reserve created 4,690.10 4,690.10
outstanding at the end of the u/s 36(1)(viii) of Income
year Tax Act 1961
Weighted average number 892,45,91,479 853,30,51,135 DTLs on account of FOs 2.33 2.80
of equity shares used in of SBI
computing basic earnings per
Foreign Currency 117.30
share
Translation Reserve
212 CONSOLIDATED
` in crore ` in crore
Particulars As at As at Sr. Break up of “Provisions and Current Previous
31.03.2019 31.03.2018 No. Contingencies” shown under Year Year
head Expenditure in Profit
Others 8.22 26.66
and loss account
Total 11,189.85 11,241.58 a) Provision for Taxation
Net Deferred Tax 10,979.02 11,832.32 - Current Tax 1,982.02 1,758.40
Assets/(Liabilities) - Deferred Tax 878.16 (9,804.79)
- Write Back of Income Tax (708.77) (11.11)
3.7 Accounting Standard-28 “Impairment of assets”: b) Provision on Non-Performing 55,343.42 72,217.65
In the opinion of the Management, there is no Assets
impairment to the assets during the year to which c) Provision on Restructured (89.85) (691.67)
Accounting Standard 28 – “Impairment of Assets” Assets
applies. d) Provision on Standard Assets 20.51 (3,584.56)
e) Provision for Depreciation on (606.00) 8,177.30
3.8 Accounting Standard – 29 “Provisions, Contingent
Investments
Liabilities and Contingent Assets”
f) Other Provisions 131.03 (103.65)
u Provisions and contingencies recognised in Total 56,950.52 67,957.58
Profit and Loss Account:
(Figures in brackets indicate credit)
u Floating provisions:
` in crore
No.
a) Opening Balance 193.75 193.75
b) Addition during the year - -
c) Draw down during the year - -
d) Closing balance 193.75 193.75
u Description of contingent liabilities (AS-29):

No
1 Claims against The parent and its constituents are parties to various proceedings in the normal course of business. It does
the Group not not expect the outcome of these proceedings to have a material adverse effect on the Group’s financial
acknowledged as conditions, results of operations or cash flows. The Group is a party to various taxation matters in respect
debts of which appeals are pending.
2 Liability on This item represents amounts remaining unpaid towards liability for partly paid investments. This also
partly paid-up includes undrawn commitments for Venture Capital Funds.
investments/
Venture Funds
3 Liability on The Group enters into foreign exchange contracts in its normal course of business to exchange currencies
account of at a pre-fixed price at a future date. Forward exchange contracts are commitments to buy or sell foreign
outstanding currency at a future date at the contracted rate. The notional amounts are recorded as contingent
forward exchange liabilities. With respect to the transactions entered into with its customers, SBI generally enters into off-
contracts setting transactions in the interbank market. This results in generation of a higher number of outstanding
transactions, and hence a large value of gross notional principal of the portfolio, while the net market risk
is lower.
CONSOLIDATED 213

No
4 Guarantees As a part of its commercial banking activities, the Group issues documentary credits and guarantees on
given on behalf behalf of its customers. Documentary credits enhance the credit standing of the customers of the Group.
of constituents, Guarantees generally represent irrevocable assurances that the Bank will make payment in the event of the
acceptances, customer failing to fulfil its financial or performance obligations.
endorsements
and other
obligations
5 Other items for The Group enters into currency options, forward rate agreements, currency swaps and interest rate swaps
which the Group with inter-Bank participants on its own account and for customers. Currency swaps are commitments to
is contingently exchange cash flows by way of interest/principal in one currency against another, based on predetermined
liable rates. Interest rate swaps are commitments to exchange fixed and floating interest rate cash flows. The
notional amounts that are recorded as Contingent Liabilities, are typically amounts used as a benchmark
for the calculation of the interest component of the contracts. Further, these also include estimated amount
of contracts remaining to be executed on capital account and not provided for, letter of comforts issued
by SBI on behalf of Associates & Subsidiaries, SBI’s Liability under Depositors Education and Awareness
Fund A/c and other sundry contingent liabilities.
The contingent liabilities mentioned above are dependent upon the outcome of court/arbitration/out of court settlements, disposal of
appeals, the amount being called up, terms of contractual obligations, devolvement and raising of demand by concerned parties, as
the case may be.
u Movement of provisions against contingent liabilities:

` in crore
Sr Particulars Current Year Previous Year
No
a) Opening Balance 526.29 1,026.38
b) Additions during the year 113.95 127.43
c) Amount utilised during the year 66.22 227.72
d) Unused amount reversed during the year 39.27 399.80
e) Closing balance 534.75 526.29
4 Inter-Bank/ Company balances between group entities maintaining a standard asset provision of ` 12.12 crore
are being reconciled on an ongoing basis. No material as on March 31,2019 in respect of such borrowers.
effect is expected on the profit and loss account of the 7 As per RBI letter no. DBR.
current year. No.BP.15199/21.04.048/2016-17 and DBR. No.
5 Counter Cyclical Provisioning Buffer (CCPB) BP. 1906/21.04.048/ 2017-18 dated June 23, 2017
and August 28, 2017 respectively, for the accounts
RBI vide Circular No. DBR.No.BP. covered under the provisions of Insolvency and
BC.79/21.04.048/2014-15 dated March 30, 2015 on Bankruptcy Code (IBC), SBI is holding total provision
‘Utilisation of Floating Provisions/Counter Cyclical of ` 34,554 crore (89.66% of total outstanding) as on
Provisioning Buffer’ has allowed the banks, to utilise March 31,2019.
up to 50 per cent of CCPB held by them as on
December 31, 2014, for making specific provisions 8 SBI has made a provision of ` 3,984 crore (total
for Non-Performing Assets (NPAs) as per the policy ` 5,643.41 crore) for the year ended March 31, 2019
approved by SBI’s Board of Directors. towards arrears of wages due for revision w.e.f
November 01, 2017.
During the year, SBI has not utilized the CCPB for
making specific provision for NPAs. 9 Profit / (loss) on sale of investment (net) under schedule
14 “Other Income” includes ` 446.48 crore on sale of
6 RBI vide Circular no. DBR.No.BP. partial investment in SBI General Insurance Company
BC.108/21.04.048/2017-18 dated June 06, 2018 Limited (Previous year ` 5,036.21crore on sale of
permitted banks to continue the exposures to MSME partial investment in SBI Life Insurance Company
borrowers to be classified as standard assets. Limited).
Accordingly, SBI has retained advances of ` 242.32
crore as standard asset as on March 31, 2019. In
accordance with the provisions of the circular, SBI
has not recognized interest on these accounts and is
214 CONSOLIDATED
10 In respect of SBI Life Insurance Company Ltd.: 11 The investments of life and general insurance
subsidiaries have been accounted for in accordance
a) IRDAI has issued directions under Section
with the IRDAI (Investment) Regulations, 2016
34(1) of the Insurance Act, 1938 to distribute
instead of restating the same in accordance with the
the administrative charges paid to Master
accounting policy followed by SBI. The investments of
policy holders vide order no. IRDA/Life/ORD/
insurance subsidiaries constitute approximate 12.74%
Misc/228/10/2012 dated October 5, 2012
(Previous Year 9.87%) of the total investments as on
amounting to ` 84.32 crore (Previous Year `
March 31, 2019.
84.32 crore). The company had filed an appeal
against the said order with Ministry of Finance, 12 In accordance with RBI circular DBOD NO.BP.
Government of India, who remanded the case BC.42/21.01.02/2007-08, redeemable preference
back to IRDAI on November 04, 2015. IRDAI shares (if any) are treated as liabilities and the coupon
issued further directions dated January 11, 2017 payable thereon is treated as interest.
reiterating the directions issued on October 5,
13 In accordance with current RBI guidelines, the general
2012. The company has filed an appeal against
clarification issued by ICAI has been considered in the
the said directions /orders with Securities
preparation of the consolidated financial statements.
Appellate Tribunal
Accordingly, additional statutory information disclosed
b) IRDAI has issued directions under Section in separate financial statements of the parent and its
34(1) of the Insurance Act, 1938 to refund the subsidiaries having no bearing on the true and fair
excess commission paid to corporate agents view of the consolidated financial statements and also
to the members or the beneficiaries amounting the information pertaining to the items which are not
to ` 275.29 crore (Previous Year ` 275.29 crore) material have not been disclosed in the consolidated
vide order no. IRDA/Life/ORD/Misc/083/03/2014 financial statements in view of the Accounting
dated March 11, 2014 .The company has filed Standard Interpretation issued by ICAI.
appeals against the order with the Securities
14 Previous year figures have been regrouped/
Appellate Tribunal (SAT).
reclassified, wherever necessary, to confirm to current
As the final orders are pending, the aforesaid year classification. In cases where disclosures have
amounts have been disclosed as contingent been made for the first time in terms of RBI guidelines/
liability. Accounting Standards, previous year’s figures have
not been mentioned.


Chairman Partner
CONSOLIDATED 215
State Bank of India

Consolidated Cash Flow Statement for the year ended 31st March 2019
(000s omitted)
PARTICULARS Year ended Year ended
31.03.2019 31.03.2018
` `
CASH FLOW FROM OPERATING ACTIVITIES
Net Profit/(Loss) before taxes (including share in profit from associates and net of 4451,05,72 (12613,79,21)
minority interest)
Adjustments for :
Depreciation on Property, Plant & Equipment 3495,89,21 3105,07,10
(Profit)/Loss on sale of Property, Plant & Equipment (Net) 32,35,82 30,73,27
(Profit)/Loss on revaluation of Investments (Net) 2124,03,82 1120,61,02
(Profit)/Loss on sale of Investments in Subsidiaries/Joint Ventures/Associates (466,47,81) (5134,30,14)
Provision for diminution in fair value & Non Performing Assets 55253,57,08 71525,98,80
Provision on Standard Assets 20,50,53 (3584,56,16)
Provision for depreciation on Investments (606,00,24) 8177,30,33
Other Provisions including provision for contingencies 131,02,52 (103,64,78)
Share in Profit of Associates (281,47,94) (438,15,98)
Dividend from Associates (11,71,87) (15,45,97)
Interest on Capital Instruments 4222,27,24 4554,43,06
68365,04,08 66624,21,34
Changes in:
Increase/(Decrease) in Deposits 218362,77,89 121391,84,57
Increase/(Decrease) in Borrowings other than Capital Instruments 41290,72,22 44832,14,90
(Increase)/Decrease in Investments other than Investment in Subsidiaries/ Joint 63373,44,50 (164770,34,41)
Ventures/Associates
(Increase)/Decrease in Advances (321988,70,29) (134190,21,63)
Increase/(Decrease) in Other Liabilities 4182,31,31 (111,91,71)
(Increase)/Decrease in Other Assets (35854,36,00) (22273,22,00)
37731,23,71 (88497,48,94)
Tax refund / (Taxes paid) (8175,23,21) (8010,41,70)
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES (A) 29556,00,50 (96507,90,64)
CASH FLOW FROM INVESTING ACTIVITIES
(Increase)/Decrease in Investments in Subsidiaries/Joint Ventures/Associates (63,52,57) 104,83,55
Profit/(Loss) on sale of Investments in Subsidiaries/Joint Ventures/Associates 466,47,81 5134,30,14
Dividend from Associates 11,71,39 15,45,97
(Increase)/Decrease in Property, Plant & Equipment (3005,51,02) 6601,82,54
(Increase)/Decrease in Goodwill on Consolidation 1734,07,01 (790,65,51)
NET CASH GENERATED FROM / (USED IN) INVESTING ACTIVITIES (B) (856,77,38) 11065,76,69
CASH FLOW FROM FINANCING ACTIVITIES
(Expenses on Shares issued and allotted on 27 March 2018) / (8,74,22) 23782,45,47
Proceeds from issue of Equity Shares net of issue expense
216 CONSOLIDATED
(000s omitted)
PARTICULARS Year ended Year ended
31.03.2019 31.03.2018
` `
Issue/redemption of Capital Instruments (net) 3377,60,00 (12118,47,50)
Interest on Capital Instruments (4222,27,24) (4554,43,06)
Dividend paid including tax thereon ,,0 (2416,26,71)
Dividend tax paid by Subsidiaries/Joint Ventures (120,69,39) (143,58,57)
Increase/(Decrease) in Minority Interest 1421,74,62 997,46,74
NET CASH GENERATED FROM / (USED IN) FINANCING ACTIVITIES (C) 447,63,77 5547,16,37
EFFECT OF EXCHANGE FLUCTUATION ON TRANSLATION RESERVE (D) 1076,28,67 1305,17,53
CASH AND CASH EQUIVALENTS RECEIVED ON ACCOUNT OF MERGER OF (E) - 681,75,35
BHARATIYA MAHILA BANK
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 30223,15,56 (77908,04,70)
(A)+(B)+(C)+(D)+(E)
CASH AND CASH EQUIVALENTS AT 1ST APRIL 195289,10,83 273197,15,53
CASH AND CASH EQUIVALENTS AT PERIOD END 225512,26,39 195289,10,83
Note:
1) Components of Cash & Cash Equivalents as at: 31.03.2019 31.03.2018
Cash & Balances with Reserve Bank of India 177362,74,09 150769,45,69
Balances with Banks and Money at Call & Short Notice 48149,52,30 44519,65,14
Total 225512,26,39 195289,10,83
2) Cash Flow from operating activities is reported by using indirect method.


Chairman Partner
CONSOLIDATED 217
Independent Auditors’ Report
To financial statements are in conformity with accounting

principles generally accepted in India and give:
The Board of Directors,
a) true and fair view in case of the Consolidated Balance Sheet,
State Bank of India,
of the State of Affairs of the Group as at March 31, 2019;
State Bank Bhavan
Madam Cama Road, b) true balance of profit in case of Consolidated Profit & Loss
Mumbai-400021 Account for the year ended on that date; and
Report on Audit of the Consolidated Financial Statements c) true and fair view in case of Consolidated Cash Flow
Statement for the year ended on that date.
Opinion
Basis for Opinion
1. We have audited the accompanying Consolidated Financial
2. We conducted our audit in accordance with the Standards
Statements of State Bank of India (“the Bank”) which
on Auditing (SAs) issued by the Institute of Chartered
comprise the Consolidated Balance Sheet as at March
Accountants of India (the ICAI). Our responsibilities under
31, 2019, the Consolidated Profit and Loss Account and
those Standards are further described in the Auditor’s
Consolidated Cash Flow Statement for the year then ended,
Responsibilities for the Audit of the Consolidated Financial
and Notes to Consolidated Financial Statements including
Statements section of our report. We are independent of the
a summary of Significant Accounting Policies and other
Group in accordance with the code of ethics issued by the
explanatory information which includes:
ICAI together with ethical requirements that are relevant to
a) Audited Results of the Bank which have been reviewed by all our audit of the Consolidated Financial Statements under the
the Central Statutory Auditors including us; provisions of the Act, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and
b) Audited Results of 28 Subsidiaries, 8 Joint Ventures and 17 the code of ethics. We believe that the audit evidence we
Associates audited by other Auditors (including 15 Regional have obtained is sufficient and appropriate to provide a
Rural Banks); and basis for our opinion.
c) Un-audited results of 1 Subsidiary and 3 Associates
(including 2 Regional Rural Banks) Key Audit Matters
3. Key Audit Matters are those matters that in our professional
The above entities together with the Bank are referred to as judgment were of most significance in our audit of the
the ‘Group’. Consolidated Financial Statements for the year ended March
In our opinion and to the best of our information and 31, 2019. These matters were addressed in the context of our
according to the explanations given to us, and based on our audit of the Consolidated Financial Statements as a whole
consideration of the reports of other auditors on separate and in forming our opinion thereon and we do not provide a
financial statements of Subsidiaries, Joint Ventures and separate opinion on these matters. We have determined the
Associates, the unaudited financial statements and the matters described below to be the Key Audit Matters of the
other financial information of subsidiaries and Associates as Bank to be communicated in our report:
furnished by the management, the aforesaid consolidated
218 CONSOLIDATED

No.
i Classification of Advances and Identification of and Our audit approach towards advances with reference to the
provisioning for non-performing Advances in accordance IRAC norms and other related circulars / directives issued
with the RBI guidelines (Refer Schedule 9 read with Note by RBI and also internal policies and procedures of the Bank
3 of Schedule 17 to the standalone financial statements) includes the testing of the following:
Advances include Bills purchased and discounted, Cash - The accuracy of the data input in the system for income
credits, Overdrafts loans repayable on demand and recognition, classification into performing and non-
Term loans. These are further categorised as secured performing Advances and provisioning in accordance
by Tangible assets (including advances against Book with the IRAC Norms in respect of the branches allotted
Debts), covered by Bank / Government Guarantees and to us;
Unsecured advances.
- Existence and effectiveness of monitoring mechanisms
Advances constitute 59.38% of the Bank’s total assets. such as Internal Audit, Systems Audit, Credit Audit and
They are, inter-alia, governed by income recognition, asset Concurrent Audit as per the policies and procedures of
classification and provisioning (IRAC) norms and other the Bank;
circulars and directives issued by the RBI from time to
time which provides guidelines related to classification of We have examined the efficacy of various internal controls over
Advances into performing and non-performing Advances advances to determine the nature, timing and extent of the
(NPA). The Bank classifies these Advances based on IRAC substantive procedures and compliance with the observations
norms as per its accounting policy No. 3. of the various audits conducted as per the monitoring
mechanism of the Bank and RBI Inspection.
Identification of performing and non-performing Advances
involves establishment of proper mechanism. The Bank
accounts for all the transactions related to Advances in
its Information Technology System (IT System) viz. Core
Banking Solutions (CBS) which also identifies whether the
advances are performing or non-performing. Further, NPA
classification and calculation of provision is done through
another IT System viz. Centralised Credit Data Processing
(CCDP) Application.
The carrying value of these advances (net of provisions)
may be materially misstated if, either individually or in
aggregate, the IRAC norms are not properly followed.
Considering the nature of the transactions, regulatory
requirements, existing business environment, estimation/
judgement involved in valuation of securities, it is a matter
of high importance for the intended users of the Standalone
Financial Statements. Considering these aspects, we have
determined this as a Key Audit Matter.
Accordingly, our audit was focused on income recognition,
asset classification and provisioning pertaining to
advances due to the materiality of the balances.

State Bank of India: Balance Sheet As at 31 March, 2019

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State Bank of India: Balance Sheet As at 31 March, 2019

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112 STANDALONE

State Bank of India

GRAND TOTAL 403017,11,82 362142,07,45

Schedule 5 - Other Liabilities & Provisions

Schedule 6 - Cash and Balances With Reserve Bank of India

Schedule 10 - Fixed Assets

GRAND TOTAL 403017,11,82 362142,07,45

Schedule 5 - Other Liabilities & Provisions

Schedule 6 - Cash and Balances With Reserve Bank of India

Schedule 10 - Fixed Assets

Schedule 11 - Other Assets

Schedule 12 - Contingent Liabilities

State Bank of India

In terms of our report of even date

RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR

VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

D. K. ROY CHOWDHURY BHUPENDER MANTRI Place : Mumbai

Schedule 13 - Interest Earned

Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

1 e-SBBJ Lower Tier II 500.00 20.03.2012 9.02 120

(Series VI) 20.03.2022

2 SBI Non Convertible 2,000.00 02.01.2014 9.69 120

(Private placement) Bonds 2013-14 ( Tier II) 02.01.2024

3 e-SBH Upper Tier II 325.00 05.06.2009 8.39 180

(Series IX) 05.06.2024

4 e- SBH Upper Tier II 450.00 21.08.2009 8.50 180

5 e -SBH Upper Tier II 475.00 08.09.2009 8.60 180

(Series XI) 08.09.2024

6 e-SBM Tier II 500.00 17.12.2014 8.55 120

Basel III compliant 17.12.2024

7 e -SBP Tier II 950.00 22.01.2015 8.29 120

Basel III compliant (series I) 22.01.2025

8 e- SBBJ Tier II 200.00 20.03.2015 8.30 120

Basel III compliant 20.03.2025

9 e -SBH Tier II 393.00 31.03.2015 8.32 120

Basel III compliant (Series XIV) 31.03.2025

10 SBI Non Convertible 866.92 04.11.2010 9.50 180

(Public issue) Bonds 2010 (Series II) 04.11.2025

11 SBI Non Convertible, Unsecured 4,000.00 23.12.2015 8.33 120

(Private Placement), Basel III compliant 23.12.2025

12 e -SBH Tier II 500.00 30.12.2015 8.40 120

Basel III compliant (Series XV) 30.12.2025

Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

13 e-SBM Tier II 300.00 31.12.2015 8.40 120

Basel III compliant 31.12.2025

14 e-SBM Tier II 200.00 18.01.2016 8.45 120

Basel III compliant 18.01.2026

15 e -SBH Tier II 200.00 08.02.2016 8.45 120

Basel III compliant (Series XVI) 08.02.2026

16 SBI Non Convertible, Unsecured 3,000.00 18.02.2016 8.45 120

(Private Placement), Basel III compliant Tier 2 Bonds 18.02.2026

17 SBI Non Convertible 3,937.60 16.03.2011 9.95 180

(Public issue) Bonds 2011 Retail 16.03.2026

18 SBI Non Convertible 828.32 16.03.2011 9.45 180

(Public issue) Bonds 2011 Non Retail 16.03.2026

19 SBI Non Convertible, Unsecured 3,000.00 18.03.2016 8.45 120

(Private Placement), Basel III compliant Tier II Bonds 18.03.2026

20 SBI Non Convertible, Unsecured 500.00 21.03.2016 8.45 120

(Private Placement), Basel III compliant Tier II Bonds 21.03.2026

21 e- SBT Tier II 515.00 30.03.2016 8.45 120